KAL, Asiana Record a Surplus

The Korean-flag carriers revise upward their 2010 sales and profit targets

Korean Air and Asiana Airlines announced their respective business performances for the fourth quarter of 2009, returning to black figures due to the turnaround of the national economy, the slowing spread of the H1N1 flu virus and the stabilization of foreign exchanges.
The Korean-flag carriers are predicted to come up with more aggressive business strategies by revising upward 2010 sales and operating profit targets.
KAL posted 2.578 trillion won in the fourth quarter of last year, a 4.9 percent drop from the same quarter of the previous year, but raked in 154 billion won in operating profit, a 580.9 percent surge from a year earlier. The airliner also saw net profit turning around to a 122.3 billion won surplus.
During the whole of last year, KAL logged 9.393 trillion won in sales, an 8 percent decrease from the 10.221 trillion won recorded in 2008, but the airliner saw operating income improving from a 99 billion won deficit to a 133.4 trillion won surplus.
KAL plans to set its 2010 sales and operating profit targets at 10.6 trillion won and 800 billion won, while investing 2.131 trillion won to maximize operating profit.
Asiana's operating profit for the fourth quarter of last year was lower than KAL's, but it is significant for the airliner to revert from a long-standing deficit to a surplus. Asiana raked in 1.089 trillion won in the fourth quarter of 2009, up 2.8 percent from the same quarter of 2008, but the airliner saw its operating income changing to a loss during the first three quarters of 2009 from last year's first quarter surplus. Asiana also saw a decline in net profit, falling to 17.1 billion won for the fourth quarter of last year.
Asiana saw its operating profit shrink to a 278.6 billion won loss during the period between the first three quarters of last year due to such unfavorable factors as the global financial crisis, the outbreak of the new flu, the appreciation of foreign currencies and crude oil price hikes. Asiana also suffered a setback in short- and mid-haul flight routes, particularly those in China and Southeast Asia, contributing to an exacerbation in the decline of operating income.
Entering the fourth quarter of last year, Asiana saw its operating profit return due to the recovery of spending sentiment following the economic turnaround, the slowing of the spread of the H1N1 flu, the stabilization of foreign currencies and a rise in international passenger demand.
Taking into account the recovery path, Asiana readjusted upward 2010 sales and operating profit targets to 4.5 trillion won and 320 billion won, up from 3.887 billion won and a 234.5 billion won loss, respectively. nw

Luau Party at Orangerie, Pomerol & ST. Emillion Wine Dinner at Seasons

Millennium Seoul Hilton is pleased to announce two promotions taking place during the month of April: one at Orangerie and the other at Seasons.
Orangerie, the hotel's international buffet restaurant will host a Hawaiian luau, featuring traditional Hawaiian food as well as special Hawaiian performances by dancers and musicians.
Hawaiian cuisine is influenced by the readily-available fresh ingredients, from seafood to fruits and exotic spices. Tantalize your senses with a taste of Hawaii. In addition, traditional dancers and musicians from Hawaii will put on special performances - a great way to appreciate the beauty of Hawaiian culture and celebrate its heritage.
In Hawaii, a luau is a large party that includes a grand feast and entertainment. Orangerie's Aloha Luau fits the bill perfectly. Say Aloha to Orangerie's Luau and experience the allure of Hawaii in Korea. The buffet is priced at KW52,000 for adults and KW31,200 for children aged 12 and under. The dinner buffet is priced at KW57,000 for adults and KW34,200 for children aged twelve and under. Tax and service charge is already included in these prices.
Seasons, Millennium Seoul Hilton's French restaurant, will showcase a very special wine dinner featuring Pomerol and St. Emillion wines. This extravagant soiree will be offered for one night only on Friday, April 16th.
Executive Chef Parl Hyo-nam has created an inspired course dinner that will greatly enhance the wine list. Designed to complement each other beautifully, the gourmet creations and luxurious wine pairings will result in an epicurean evening that will be remembered forever. A night of gastronomic pleasure, this wine dinner will mark a pinnacle in your resume of wining and dining experiences.
The wine list includes highly acclaimed wines including 1992 Petrus Pomerol, 2002 Chateau Cheval Blanc St. Emillion, and 1993 Chateau L'vangile Pomerol. The dinner, including wine, is priced at KW850,000++ per person. Advanced recommendations are highly recommended.
Orangerie's international buffet offers a vast array of international fare in a cheerful and open environment. Orangerie has a fun play area where the children can play when they are finished eating. Private dining rooms are available.
Marked by sophistication and beautifully-decorated surroundings, Seasons offers contemporary French gourmet cuisine accented by traditional flavors.
For reservations or enquiries, please call Orangerie at (02) 317-3143 or Seasons at (02) 317-3060. nw