April 24, 2024

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[THE INVESTOR] Korean Air Lines’ profits will rise regardless of high oil prices in the second quarter, said KTB Investment and Securities on June 26, maintaining a “buy” recommendation and raising the target price to 50,000 won (US$44.08) from 38,000 won.

Although the average quarterly jet fuel price is 13 percent higher than the same period last year, the airline company will post higher operating profit from strong performances in both passenger and air cargo units, said analyst Lee Han-jun. Revenue will rise 3 percent on-year to 2.90 trillion won and operating profit by 1.6 percent to 161.7 billion won, estimated the analyst.

By Hwang You-mee (glamazon@heraldcorp.com)