Korean Air said its cargo volumes remained stable at the end of 2024, supported by sustained e-commerce demand from China and a seasonal year-end retail surge.

The South Korean flag recorded cargo revenue of KRW 1.1980 trillion US$831 million) in the fourth quarter, marking a 9% increase year-on-year. 

For the full year 2024, Korean Air achieved a "record-high revenue" of KRW 16.1166 trillion (US$10.9637 billion), with an operating profit of KRW 1.9946 trillion (US$1.3229 billion).

"In Q4 2024, operating profit grew 159% year-on-year and net profit returned to profitability," the carrier said in a statement. 

It added that 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," Korean Air said.

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 China market.

"In cargo operations, the airline plans to strengthen profitability through service diversification and dynamic capacity management, leveraging robust e-commerce-driven demand," it said.

In 2025, Korean Air also 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 global carrier by strategically preparing for its integration with Asiana Airlines," the South Korean flag carrier added.