Dhaka, Oct. 22 -- Korean Air reported a 67pc drop in 3rd quarter net profit, as rising fixed costs and intensifying competition in ticket pricing offset a recovery in passenger demand.

The airline posted 91.8 billion won ($2.8 billion) in net profit on a consolidated basis for the July to September period, it said in a regulatory filing on Tuesday ( Oct 21) .

Revenue came in at 4.01 trillion won, down 6pc from a year earlier, while operating profit slumped 39pc to 376.3 billion won.

The year-on-year declines reflect a fall of 232.3 billion won in revenue and 242.3 billion won in operating profit.

"Passenger revenue fell year-on-year due to growing global supply and intensifying competition in airfare pricing," Korean Air said.

"Altho...