Korean Air narrows loss as cargo grows; Ethiopian gets loan to expand

© Senohrabek

Korean Air’s net loss fell in 2016 to KW556.8bn ($485.9m), compared with a net loss of KW562.97 bn in 2015. Its cargo division did well, recording an 8% rise in volumes in the fourth quarter, year-on-year, despite a 4% fall in Korean outbound volumes.

FTKs in the fourth quarter grew 5.4%, while yields also grew 2.5%, to $0.25. The carrier said it planned to “improve profitability by transporting high-yield cargo items and providing flexible capacity”.

The group’s improved overall loss was helped by ...