Korean Air Lines Co., Ltd.
Company Background
Korean Air Lines, the largest airline in South Korea, is part of the Hanjin group, a conglomerate specializing in transportation. It is a key air carrier in Asia, with 115 routes worldwide as of the end of 2014. The airline was founded as a state-owned company in 1962 under the name Korean Air Lines and was privatized in 1969. It operates a wide range of services from air cargo to domestic and international passenger flights. Korean Air also operates an aerospace business that develops military and unmanned aircraft.
Its international passenger services are the company's largest source of profit, generating more than half the company's revenue. Air cargo services follow, accounting for more than 20% of revenue.
As of the end of March, it owned 149 aircraft, 122 for passengers and 27 for cargo. Its fleet ranges in size from Airbus A380 superjumbo to the midsize Boeing 737.
The South Korean airline plans to spend a total of $12.23 billion, based on list prices, to buy more than 100 new-model aircraft, including the Boeing 737 Max and Airbus A321neo.
Its discount affiliate, Jin Air, offers short-haul flights to Japan and China, as well as medium-length flights to Southeast Asia. Korean Air, by contrast, is looking to strengthen its service on major routes and long-haul overseas service.
Korean Air is a member of the SkyTeam international airline alliance.
Business Summary
Financial Highlights
Dec 2022 | KRW | USD |
Revenue | 14,096.09B | 10,909.43M |
Gross Profit | 3,757.76B | 2,908.25M |
Operating income | 2,832.96B | 2,192.52M |
Income before tax | 2,561.96B | 1,982.78M |
Net income | 1,724.40B | 1,334.57M |
EBITDA | 4,482.70B | 3,469.31M |
Diluted EPS | 4,787.06 | 3.70 |
Dividends Per Share | 750 | 0.58 |
Total Assets | 28,997.70B | 22,932.14M |
Total liabilities | 19,705.24B | 15,583.42M |
Total equity | 8,994.19B | 7,112.84M |
Operating cash flow | 5,170.10B | 4,001.31M |
Currency in KRW | Currency in USD |
Historical Data
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 13,011.64B | 12,384.26B | 7,610.53B | 9,016.82B | 14,096.09B |
Gross Profit | 2,033.65B | 1,365.03B | 675,036.73M | 2,029.64B | 3,757.76B |
Operating income | 671,650.20M | 175,624.82M | 106,942.38M | 1,409.50B | 2,832.96B |
Income before tax | -178,264.61M | -815,020.32M | -934,840.24M | 843,142.90M | 2,561.96B |
Net income | -168,480.81M | -749,585.65M | -862,627.58M | 560,947.10M | 1,724.40B |
EBITDA | 2,422.28B | 2,249.29B | 2,069.22B | 3,104.86B | 4,482.70B |
Diluted EPS | -1,191.47 | -4,516.12 | -1,671.76 | 1,656.22 | 4,787.06 |
Dividends Per Share | 169.64 | 0 | 0 | 0 | 750 |
Total Assets | 25,842.50B | 27,014.11B | 25,190.06B | 26,671.90B | 28,997.70B |
Total liabilities | 23,381.01B | 25,312.62B | 22,556.49B | 20,106.18B | 19,705.24B |
Total equity | 2,338.42B | 1,576.89B | 2,528.34B | 6,453.93B | 8,994.19B |
Operating cash flow | 2,205.08B | 1,610.78B | 776,098.97M | 3,085.05B | 5,170.10B |
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 11,823.20M | 10,619.47M | 6,450.21M | 7,873.86M | 10,909.43M |
Gross Profit | 1,847.90M | 1,170.51M | 572.11M | 1,772.37M | 2,908.25M |
Operating income | 610.30M | 150.59M | 90.63M | 1,230.83M | 2,192.52M |
Income before tax | -161.98M | -698.87M | -792.31M | 736.26M | 1,982.78M |
Net income | -153.09M | -642.76M | -731.10M | 489.84M | 1,334.57M |
EBITDA | 2,201.04M | 1,928.76M | 1,753.75M | 2,711.29M | 3,469.31M |
Diluted EPS | -1.08 | -3.87 | -1.41 | 1.44 | 3.70 |
Dividends Per Share | 0.15 | 0 | 0 | 0 | 0.58 |
Total Assets | 23,160.51M | 23,359.52M | 23,188.86M | 22,436.93M | 22,932.14M |
Total liabilities | 20,954.48M | 21,888.21M | 20,764.51M | 16,913.71M | 15,583.42M |
Total equity | 2,095.73M | 1,363.56M | 2,327.48M | 5,429.17M | 7,112.84M |
Operating cash flow | 2,003.67M | 1,381.24M | 657.77M | 2,693.99M | 4,001.31M |
Valuation Measures
Dec 2022 | |
PER | 4.79 |
ROA | 6.19% |
ROE | 22.32% |
Operating margin | 20.09% |
Profit margin | 12.23% |
Management
- Chairman & Co-Chief Executive Officer: Won-Tae Cho
- Co-CEO, Director & Head-Strategy Management: Gi-Hong Woo
- Senior Managing Director & Head-Finance: Eun-Yong Ha
- Director & Vice President-Technology: Soo-Geun Lee
- Senior Managing Director & Head-Aerospace: In-Hwa Kim
Shareholders
- HANJIN KAL Corp. (26.1%)
- National Pension Service of Korea (7.3%)
- Korean Air Lines Co. Ltd. Employee Stock Ownership Associate (4.3%)
- The Korea Development Bank (Investment Management) (3.3%)
- The Vanguard Group, Inc. (1.7%)
- BlackRock Fund Advisors (1.0%)
- Norges Bank Investment Management (0.8%)
- Jungseok-Inha School's Foundation (0.7%)
- Samsung Asset Management Co., Ltd. (0.6%)
- Dimensional Fund Advisors LP (0.5%)
Contact Details
- Website:http://www.koreanair.com
- Address: 260 Haneul-gil, Gangseo-gu, Seoul, 07505, South Korea
- Phone: +82.2.2656.7114
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Competitors
- Asiana Airlines Inc.
- China Airlines Ltd.
- Firstec Co., Ltd
- PAL Holdings, Inc.
- JEJUAIR CO., LTD.
- LATAM Airlines Group SA
- Hucentech Co., Ltd.
- AeroSpace Technology of Korea, Inc.
- Air Busan Co., Ltd.
- JIN AIR Co., Ltd.
- Earth & Aerospace Manufacturing Ind. Co. Ltd
- AK Holdings, Inc.
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