Korean Air logs record Q3 profit on cheap fuel

Third-quarter results from Korean Airlines, one of the world’s largest air cargo carriers and holder of a 33% stake in now-bankrupt Hanjin Shipping, saw it return to profit after reaping the benefits of low oil prices – and this came despite booking a Won825bn (US$728m) loss on Hanjin. The airline posted a Won448bn operating profit from July to September, compared with a Won510bn loss this time last year, and told shareholders it would offer no further financial support to Hanjin. “As Hanjin ...