South Korea's biggest airline, Korean Air, Thursday announced the planned purchase of 12 Boeing passenger jets for $3.8 billion over the next five years.
In a regulatory filing, the carrier said it planned to add five 747-8 Intercontinentals, six 777-300ERs and one 787 Dreamliner to its fleet by the end of 2018.
Korean Air currently operates around 155 aircraft, flying to 45 countries.
The airline said it posted a third quarter net profit of 342 billion won ($324 million), down 1.0 percent from a year ago on a decline in passenger traffic.
It said operating profit fell 43 percent year-on-year to 160 billion won, while revenue was down 3.4 percent to 3.18 trillion won.
But the company benefitted from a foreign-exchange gain of 597 billion won, it added.
The carrier said outbound travel to Japan had declined sharply due to concerns about radiation.
by Saeed KHAN © 2013 AFP
Date: Oct 24, 2013