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2010. 2Q. Performance
2010. 2Q. Performance
Category '10.06. 2009 Change Change(%)
Total Asset 58,856 58,150 706 1.2%
Total Liabilities 50,624 50,832 -207 -0.4%
- Borrowings 36,863 38,642 -1,778 -4.6%
Stock holder’s Equity 8,231 7,318 913 12.5%
- Common Stock 8,763 8,759 4 0.04%
1. Financial Performance
(Unit : KRW 100mil.)Balance sheet
Operating Margin
Debt Ratio
1
Category ‘10.2Q. ‘09.2Q.Change
(%)‘10.1H. ‘09.1H.
Change
(%)
Revenue 12,388 8,483 46.0% 24,145 17,712 36.3%
Cost of sales 10,612 9,778 8.5% 21,217 20,209 5.0%
Operating Income 1,775 -1,295 - 2,928 -2,496 -
Non-Operating Income -1,628 1,896 - -1,560 -35 -
- Net Financing Cost 568 545 4.2% 1,105 1,143 -3.3%
- Gain on Foreign
Currency Translation-743 663 - -450 -126 -
- Miscellaneous Loss 207 0 - 216 515 -58.2%
Income before taxes 147 600 -75.5% 1,368 -2,531 -
(Unit : KRW 100mil.)Income Statement
4.7%
-1.2%
-6.1%
9.8%
14.3%
2007 2008 2009 '10.1Q '10.2Q
274%
662% 695% 615%
2007 2008 2009 '10.06
436 206
801
273 346
-179
237
-931 -1,201
-1,295
-290
420
1,153
1,775
5.1% 2.4%
8.3%
2.8% 3.5%
-1.7%
2.0%
-8.7%
-13.0%-15.3%
-2.8%
3.8%
9.8%
14.3%
'07.1Q 2Q 3Q 4Q '08.1Q 2Q 3Q 4Q '09.1Q 2Q 3Q 4Q '10.1Q 2Q
OP income OP margin
‘09.2Q.
2
3,905(46.0%)
834(8.5%)
10,612
8,4839,778
12,388
‘09.2Q.‘10.2Q. ‘10.2Q.-1,295
1,775
‘09.2Q.
‘10.2Q.
3,071
2010. 2Q. Performance
2. Operating Income
Revenue Operating Cost Operating Income
(Unit : KRW 100mil.)
Quarterly Operating Income
(Unit : KRW 100mil.)
Dom.
9.6% Japan
20.6%
S.E.Asia
17.6%China
18.4%
USA
21.1%
EU
7.3%
Oceania
5.4%
Cargo
3
Dom.Passenger
5.6%
Int’l Passenger54.3%
Cargo30.4%
Others9.7%
2010. 2Q. Performance
3. Revenue Proportion
Revenue proportion by businessRevenue proportion by routes
Dom.
0.3% Japan
5.5%S.E.Asia
14.6%
China
9.2%USA
49.2%
EU
20.5%
Oceania
0.7%
Passenger
RoutesRPK Yield
‘10. 2Q. ‘09. 2Q. Change(%) ‘10. 2Q. ‘09. 2Q. Change(%)
Int’l Passenger 6,539 5,122 28% 97 86 13%
Japan 714 562 27% 201 186 8%
S.E. Asia 1,552 1,310 18% 79 71 12%
China 765 498 54% 169 154 9%
USA 2,259 1,734 30% 65 59 10%
EU 702 568 24% 73 56 30%
Oceania 547 451 21% 69 65 6%
Item ‘10. 2Q. ‘09. 2Q. Change Change(%)
Rev (KRW 100Mil.) 6,330 4,384 1,946 44.4%
ASK(Mil.KM) 8,504 7,719 785 10.2%
RPK(Mil.KM) 6,539 5,122 1,416 27.7%
L/F 76.9% 66.4% 10.5%p
Yield(Won) 96.8 85.6 11.2 13.1%
Yield(¢) 8.6 6.6 2.0 29.9%
Int’l passengers have been increasing after 2009.2H. due to recovery of outbound passenger demand to
China, Japan, etc. In addition, easier visa issuance for Chinese and visa waiver program to the USA have made
int’l passengers grow.
Operating
Routes
4
2010. 2Q. Performance
4. Operating Performance
Int’l Passenger
(Unit : Mil.KM, KRW)
84 81
9287 90 92
104 10597
86 90 8893 97
-3% -2%4% 4% 7%
14% 14%21%
8%
-7%-14% -17%
-4%
13%
'07.1Q 2Q 3Q 4Q '08.1Q 2Q 3Q 4Q '09.1Q 2Q 3Q 4Q '10.1Q 2Q
Yield Change(%)
5,347 5,3215,695
5,3865,779 5,690
5,953
5,300 5,5015,122
6,227 5,998
6,793 6,539
18%
8% 5% 4%8% 7% 5%
-2%-5% -10%
5%
13%
23%28%
'07.1Q 2Q 3Q 4Q '08.1Q 2Q 3Q 4Q '09.1Q 2Q 3Q 4Q '10.1Q 2Q
RPK Change(%)
5
Int’l Passenger RPK
Int’l Passenger Yield
2010. 2Q. Performance
4. Operating Performance(Cont.)(Unit: Mil.KM)
(Unit : KRW)
(Change rate : year-on-year)
RTK dramatically increased and Yield recorded the best quarterly performance due to IT products export such as
semiconductors, display-panels, etc., which are over 50% of air cargo traffic, and increment in air cargo transit.
RoutesRTK Yield
‘10. 2Q. ‘09. 2Q. Change(%) ‘10. 2Q. ‘09. 2Q. Change(%)
Cargo Total 929 741 25% 387 261 48%Japan 22 17 28% 890 667 34%
S.E. Asia 129 105 24% 405 271 49%China 36 30 19% 927 546 70%USA 524 398 32% 338 224 51%EU 206 179 15% 358 248 44%
Oceania 8 9 -1% 301 272 11%Domestic 3 3 3% 346 325 6%
Item ‘10. 2Q. ‘09. 2Q. Change Change(%)
Rev (KRW 100Mil.) 3,598 1,934 1,664 86.0%
ATK(Mil.KM) 1,152 968 184 19.0%
RTK(Mil.KM) 929 741 188 25.4%
L/F 80.7% 76.6% 4.1%p
Yield(Won) 387.2 261.0 126.2 48.3%
Yield(¢) 34.3 20.1 14.2 70.4%
Operating
Routes
6
2010. 2Q. Performance
4. Operating Performance(Cont.)
Cargo
(Unit : Mil.KM, KRW)
849896 864
967
861 867834
777703
741785
908 889929
8%1% -2%
6%1%
-3% -3%
-20% -18% -15%-6%
17%
27% 25%
'07.1Q 2Q 3Q 4Q '08.1Q 2Q 3Q 4Q '09.1Q 2Q 3Q 4Q '10.1Q 2Q
RTK Change(%)
7
Cargo RTK
Cargo Yield
2010. 2Q. Performance
4. Operating Performance(Cont.)(Unit: Mil.KM)
(Unit : KRW)
(Change rate : year-on-year)
241 232248
278 271
316363 357
255 261
303
375349
387
-10% -9%-3%
6%13%
36%47%
28%
-6%-18% -16% -6%
37%
48%
'07.1Q 2Q 3Q 4Q '08.1Q 2Q 3Q 4Q '09.1Q 2Q 3Q 4Q '10.1Q 2Q
Yield Change(%)
Item ’10. 2Q. ’09. 2Q. Change Change(%)
Operating Cost 10,612 9,778 834 8.5%
Fuel Cost 3,449 2,753 696 25.3%
Fuel Price(¢/ USG) 226.6 176.8 49.7 28.1%Volumes (Mil. USG) 134.8 120.1 14.7 12.2%Exchange rate(\/$) 1,130.0 1,296.7 -166.7 -12.9%
The fuel price and usage increasedWages 1,192 1,181 11 0.9%
Number of Employees 8,324 8,139 185 2.3%
Salary was frozen
Depreciation 561 327 235 71.9%
Number of Aircraft on
Financing Leases/Owned *31.4 31.0 0.4 1.3%
Aircraft Rental Cost 812 843 -31 -3.7%
Number of Aircraft on
Operating Leases *42.0 39.4 2.6 6.7%
Won appreciationMaintenance Cost 316 722 -405 -56.2%
Net Financing Cost 568 545 23 4.2%
Borrowings (As of term-end) 36,863 35,827 1,036 2.9%
8
2010. 2Q. Performance
5. Operating Cost(Unit : KRW 100mil.)
* Figures include 6 aircraft leased to Air Busan ( Financing Lease/Owned: 4, Operating lease: 2)
Introduction of New Aircraft
A/C TypeFleet Status Fleet Plan
2010.06. 2009 Change Operating Finance Owned 2010 ChangeTotal 67 69 -1 39 21 7 69 0
(58%) (31%) (11%)
Passenger 59 61 -1 38 17 4 60 -1
A320-200 11 11 0 11 11 0
A321-100 2 2 0 2 2 0
A321-200 13 13 0 13 14 1
A330-300 8 8 0 8 9 1
B737-400 2 5 -2 1 1 2 -3
B767-300 7 7 0 4 3 7 0
B777-200ER 11 10 1 3 8 11 1
B747-Pax 2 2 0 1 1 2 0
B747-Com 3 3 0 3 2 -1
Freighter 8 8 0 1 4 3 9 1
B767-Frt 1 1 0 1 1 0
B747-Frt 7 7 0 1 3 3 8 1
9
2010. 2Q. Performance
6. Fleet Plan
- Return 2 B737 (Mar/Apr)
Lease 1 B737 to Air Busan(Feb)
- Introduce 1 B777(Mar), 1 A330(Sep), 1 A321(Oct)
- Conversion 1 B747-Com(Aug)
※ A/C Type & Delivery
- 30 A350 XWB(800/900/1000)
- Delivery from 2016 to 2022
※ A350 Specialties
- Mid/long haul A/C with 270~350 seats
- Cost saving
- Eco-efficient aircraft with reduced emission & lower noise