Korean Air, South Korea’s biggest airline, said its first-quarter net loss widened sharply from a year earlier, as a weak yen hit demand on Japanese routes.
Net losses grew to 300.6 billion won ($285 million) in the January-March period from a loss of 64.2 billion won a year earlier.
The airline said first-quarter operating losses increased to 123.4 billion won from 98.9 billion won a year ago. Revenue fell two percent to 2.94 trillion won.
The carrier said a weak yen and a tense standoff with North Korea would affect inbound demand from Japan and China in the second quarter but outbound travel would increase.
The South Korean won’s weakness against the US dollar also resulted in 254.5 billion won in foreign-exchange losses in the first quarter, it said.
Korean Air losses widen due to weak yen
