SEOUL, South Korea (AP) — Asiana Airlines Inc. reported its first profitable quarter this year as travel peaked during the fall holidays. South Korea's second-largest air carrier said Friday that its July-September quarter earnings amounted to 82.8 billion won ($77.8 million), up 3.3 percent over a year earlier. But third-quarter operating income plunged 42 percent to 63.4 billion won while sales dropped 3 percent to 1.52 trillion won. Asiana said the weak yen continued to dampen travel demand from Japan, while overseas trips by other passengers increased as demand typically rises during the third quarter. Analysts said despite an overall increase in passengers during the fall peak season and long holidays in South Korea, Asiana likely saw a drop in air fares and freight charges due to heightened competition from budget airlines. Asiana Airlines makes more than half of its revenues from overseas passenger flights.
Asiana Posts 1st Profit In 3 Quarters
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