Korean Air Fills 68.6% Of Seats In Dec Vs 69.4% In Nov

02 February 2005



SEOUL (Dow Jones)--Korean Air Co. (003490.SE) filled 68.6% of available seats with paying passengers in December, down 0.8 percentage point from November and down 0.2 percentage point from a year earlier, the country's flag carrier said Wednesday.



Although the airline was affected by the Dec. 26 tsunami and was forced to suspend some flights that month, it "maintained firm results in December," Korean Air said in a statement.



Korean Air flew 3.93 billion revenue passenger kilometers in December, up 5.5% from a year earlier, even after the carrier increased the number of flights by 5.9% from a year ago.



Revenue passenger kilometer is a measurement used in the airline industry to calculate passenger volume.



"Although the domestic operations shrank due to the launches of express trains and the sluggish local economy, we saw a 7.1% of growth in the international passenger division's revenue passenger kilometers, helped by high demand for flights to Japan and Southeast Asia," the airline said.



Korean Air also said it filled 76.8% of its available cargo space in December, 1.6 percentage points higher than the previous month, boosted by strong cargo demand to China. In December 2003, Korean Air filled 75% of cargo space.



Its freight ton kilometers climbed 8.5% year-on-year to 692.9 million.



For all of 2004, the Korean Air filled 71.1% of available seats with paying passengers, up 2.6 percentage points from a year ago.



It filled 75.8% of cargo space, 3.7 percentage points higher than in 2003.



The airline's revenue passenger kilometers in 2004 grew to 46 billion, jumping 13.6% from a year ago, while its freight ton kilometers increased 18.2% on year to 8.35 billion, the airline said.



Korean Air last week reported a 2004 net profit of KRW471.8 billion (US$459.6 million) on revenue of KRW7.21 trillion.

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