Korean Air’s net profit plunged nearly 70 per cent in the third quarter as US President Donald Trump’s tariffs and hardline immigration policies weighed on the airline’s cargo and passenger businesses.
South Korea’s flag carrier on Tuesday said its net profit fell 67 per cent year on year to Won92bn ($64mn) in the July-September quarter. Passenger revenue fell 7.5 per cent during a normally strong season for travel.
The company said its passenger business was adversely affected by a decline in trips to the US because of the Trump administration’s stricter entry screenings. Sales from Americas routes fell 12 per cent.
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