Korean Air with higher revenue in the fourth quarter of 2022

Korean Air reported revenue equivalent to US$2022 billion in the fourth fiscal quarter of 2,846, up 28 percent compared to the same period last year.

Passenger demand has recovered and cargo revenues have also been resilient. In terms of operating profit, the airline reported a 410,4 percent decline from the same period last year, with operating profit of $26 million. Passenger revenue grew 339 percent year-on-year, driven by growing demand for air travel due to Japan's revised inbound and outbound regulations and seasonally strong travel demand in Southeast Asia and Oceania, the carrier said in a release. Sales in the passenger business even exceeded freight revenue.