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Japan-South Korea rift

South Korean airlines' profits vanish as Japan travel slumps

Losses extend from top-ranked Korean Air to budget carriers

Flag carrier Korean Air Lines reported a net loss exceeding $180 million in the third quarter.   © Reuters

SEOUL -- Six leading South Korean airlines all swung to losses in the July-September quarter, as Seoul's frayed relations with Japan curtailed passenger traffic during a peak period.

Flag carrier Korean Air Lines announced Thursday a net loss of 211.8 billion won ($181 million), a reversal from the company's 267.8 billion won profit in the year-earlier quarter. Sales shrank 3.7% to 3.28 trillion won, precipitating the first loss in four years.

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