Korean Air eyes more profitability after Q1 net loss

Korean Air flights will now look towards earning more profits after suffering a first quarter net loss. The airline in a statement said that it will continue to “focus on profitability” despite net loss in the first quarter.

The airline in a statement indicated that with high jet fuel prices persisting into the second quarter it is rethinking schedules and aircraft deployment to make the company more profitable.

According to Korean Air, it will “readjust the number of flights and kinds of planes on route depending on demand and will focus on profitability”.

Travel experts predicted some good news for Korean Air saying that the outbound travel will improve on seasonal demand from the second quarter. According to travel experts, the airline will be able to pass on some higher fuel costs to passengers booking Korean Air flights tickets by increasing surcharges in the second quarter.

Korean Air shifted to a consolidated net loss of $59 million (67.2 billion Korean Won) from a net profit of $229.18 million (270.9 billion Korean Won) in Q1 ended March 31, as compared to the same period in 2011.