Korean Air Posts Q1 Net Loss

Korean Air Lines Co swung to a net loss in the first quarter. Korean Air posted a quarterly consolidated net loss of KRW67.2 billion (US$59 million), versus a year-ago net profit of KRW270.9 billion. Its jet fuel expenses surged 22% to KRW1.210 trillion from KRW995 billion. Korean Air posted an operating loss of KRW98.9 billion, versus a year-ago operating profit of KRW162.9 billion. Its sales climbed 6.3% to KRW2.998 trillion from KRW2.821 trillion. The unit price surged 15% to $133 per barrel versus $116 a barrel.