South Korea's airlines posted record sales last year on the back of the global economic recovery and growing travel sentiment, a government report showed Monday.
According to the report released by the Ministry of Land, Transport and Maritime Affairs, seven South Korean airlines registered a combined 17.44 trillion won (15.68 billion U.S. dollars) in sales last year.
Their total operating profit also stood at a record high of 1. 74 trillion won. These airlines include Korean Air Lines Co. and Asiana Airlines Inc., the nation's two largest national flag carriers, along with smaller budget carriers, such as Jeju Air Co., Jin Air Co. and T'way Airlines.
Korean Air, the nation's top flag carrier, posted 11.46 trillion won in sales, a 22 percent jump from a year earlier, with its operating profit surging 739 percent to 1.12 trillion won, the ministry said. The ministry said the robust performances of the airlines can be attributed to the global economic recovery that boosted the overall demand for passenger and cargo flights.
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