[Featured Stock] Korean Air Preferred Shares Show Early Strength... Forecasted Record High Operating Profit

[Asia Economy Reporter Park So-yeon] Korean Air preferred shares are showing strong performance.

As of 9:07 AM on the 15th, Korean Air Preferred shares are trading at 44,000 KRW, up 5,100 KRW (13.11%) from the previous trading day.

Korea Investment & Securities maintained a 'Buy' rating on Korean Air, stating that the company is expected to achieve its highest-ever operating profit this year.

Researcher Choi Go-woon stated, "Korean Air's third-quarter revenue and operating profit were 2.3 trillion KRW and 420.2 billion KRW respectively, representing increases of 14% and 117% compared to the previous quarter, surpassing market expectations by 60%."

He added, "Korean Air's fourth-quarter operating profit is expected to reach 500 billion KRW, a 19% increase from the third quarter, marking the highest quarterly figure. The annual operating profit is projected to be 1.2 trillion KRW, the highest ever."

Furthermore, he forecasted, "Air cargo freight rates in the fourth quarter will rise by 16%, and the increase in cargo sales will offset the burdens of fuel and labor costs."