Airline 4Q Results : Bright Lights Appear

January 22, 2010 · by Miyuru Sandaruwan · in ,

Airline financial results have started coming in. Although many airlines are still in the red, some bright light is seen from the end of the tunnel. The most noticeable performance comes from Korean Air, who reported a 581% increase in profits.

Kingfisher
Result type : Q3 2009 ( 31 Dec )
Profit ( loss ) : ( $ 91m )
Changes : A mere increase compared to around $90.5m in corresponding quarter last year.
Total revenue fell 5% while total expenditure fell 12%.
RPKs rose 14.8% from a year ago while ASKs were slashed 7.5%.
Total pax carried rose 4.2% to 2.7 million.

SpiceJet
Result type : 3Q 2009 ( 31 Dec )
Profit ( loss ) : $ 23.8m
Changes : A considerable turnaround considering the net loss of INR 1.01b in 2Q 2009 – this is SpiceJet’s best quarter so far.
Total income rose 32% while total expenditure rose 4%.
ASKs rose 28% while load factor has risen to 89%.
Total pax grew 55% compared to 3Q 2008.

Korean Air
Result type : 4Q 2009 ( 31 Dec )
Profit ( loss ) : $ 134m
Changes : A 581% increase in profit driven by a surge in cargo and recovery in international travel.
Net income was 122.3b won compared to a 644b won loss a year ago.
Total operating expenses fell 9.9%.
RPKs rose 11.3% while ASKs grew 6.5%.
Total FTKs increased 15.2%.

This post will be updated with more details, as available.