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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Korean Air beats Q4 earnings expectations’

  • PUBLISHED :January 17, 2018 - 15:24
  • UPDATED :January 17, 2018 - 15:24
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[THE INVESTOR] Korean Air’s earnings from the fourth quarter last year will be better than expected, said Hana Financial Investment on Jan. 17, raising the target price to 48,000 won (US$45.10) from 43,000 won.




Its revenue rose 7.8 percent on-year to 3.16 trillion won and operating profit by 35.6 percent to 241.8 billion won, the latter beating market consensus, said analyst Park Seong-bong.

International passenger service increased 4.5 percent from the Thanksgiving holiday in October and recovering inbound tourism and passenger rate hiked 10 percent, while demand for cargo service remained strong, said the analyst. 

The airline company signed a joint venture agreement with Delta in June last year and only needs an approval from the Transport Ministry by March. The authorization will shift Delta’s hub airport to Incheon from Narita, Japan, noted Park. 

Its business will continue to be favorable this year and in long-term perspective, its financial health will improve, according to the analyst who maintained a “top pick” recommendation. 

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

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