• Korean Air achieved a record-high revenue of KRW 16.1166 trillion (USD 10.9637 billion) in 2024, with an operating profit of KRW 1.9946 trillion (USD 1.3229 billion).

• In Q4 2024, operating profit grew 159% year-on-year and net profit returned to profitability.

• The airline’s Q4 2024 passenger business revenue totalled KRW 2.3746 trillion, a 3% decline year-on-year due to ongoing recovery in global supply chains. Despite the seasonal off-peak period, the airline maintained stable profitability by strategically adjusting capacity to meet strong winter tourism demand and enhancing premium class service to improve load factors.

• The airline recorded cargo revenue of KRW 1.1980 trillion in the fourth quarter, marking a 9% increase year-on-year. Cargo volumes remained stable, supported by sustained e-commerce demand from China and seasonal year-end retail surge.

• For Q1 2025, Korean Air aims to maximize revenue in passenger operations by maintaining capacity on high-demand routes and expanding charter flights, driven by sustained long-haul demand and anticipated recovery in the Chinese market. The airline plans to strengthen profitability through service diversification and dynamic capacity management in cargo operations, leveraging robust e-commerce-driven demand.

• In 2025, Korean Air anticipates uncertainties in the business environment due to shifts in the global political landscape. However, the airline remains committed to strengthening its competitiveness as a leading international carrier by strategically preparing to integrate with Asiana Airlines.

Q4 and Full Year 2024 Results (Non-consolidated)

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