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Korean Air will increase its passenger fares for routes to the United States by 10 per cent and ones to Australia and New Zealand by 5 per cent, the airline said.
The carrier also plans to raise its business and prestige class passenger fares for routes to European countries excluding Italy, the Netherlands, Austria, Czech and Russia by 5 per cent.
Korean Air was scheduled to increase the overseas passenger fares from June, but the continued economic slump and the impact of a new flu outbreak had delayed its fare hike plan, the company said.
The planned fare increase comes as the airline is struggling with ballooning losses. It posted a net loss of 526.3 billion won (US$416 million) in January-March period due to increased foreign exchange losses, compared with a net loss of 326 billion won a year earlier.
The South Korean won dropped over 30 per cent against the greenback in the first quarter from a year ago.
The carrier recorded 2.26 trillion won in sales in the first quarter, unchanged from the previous year, but operating profit fell 66 per cent to 6.6 billion won.
Korean Air said in February that it is aiming for 10.3 trillion won in sales and 600 billion won in operating profit this year.
(Yonhap)
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