Korean Air, Asiana catch tailwind as cargo delivers profit

Higher freight rates boost revenue while passenger traffic slumps

Korean Air Lines saw a sixfold rise in its operating profit in 2021, with cargo making up most of the revenue. © Reuters

KOTARO HOSOKAWA, Nikkei staff writer

February 16, 2022 03:52 JST

SEOUL -- South Korea's two leading airlines sharply improved their operating profits last year, results released through Tuesday show, capturing the rising demand for cargo transport to help offset lackluster passenger traffic.

Flag carrier Korean Air Lines increased its operating profit sixfold to a record 1.46 trillion won ($1.22 billion) on an non-consolidated basis in 2021. Revenue rose 18% to 8.75 trillion won.