Asiana Airlines Inc. financial statements, 6 years: Operating income of KRW 93.2bn but a net loss of KRW 516.8bn in 2021
Consolidated financial statements for 2020–2025 and the 2026 half-year report that Asiana Airlines Inc. filed with DART, laid out by year. No interpretation or outlook.
Asiana Airlines Inc. financial statements, 6 years: Operating income of KRW 93.2bn but a net loss of KRW 516.8bn in 2021
The consolidated financial statements in the 2020–2025 annual reports that Asiana Airlines Inc. (020560) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — operating income and net income had opposite signs in 2 years
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 3.88tn | — | −271.8bn | — | −7.0% | −503.0bn |
| 2021 | 4.34tn | +11.90% | 93.2bn | turned to profit | 2.1% | −516.8bn |
| 2022 | 6.21tn | +43.02% | 598.8bn | +542.43% | 9.7% | 26.5bn |
| 2023 | 7.62tn | +22.83% | 619.9bn | +3.53% | 8.1% | 180.5bn |
| 2024 | 8.32tn | +9.12% | 275.7bn | −55.53% | 3.3% | −413.0bn |
| 2025 | 7.27tn | −12.64% | −345.2bn | turned to loss | −4.8% | −292.5bn |
Revenue was largest in 2024 at KRW 8.32tn and smallest in 2020 at KRW 3.88tn among the six years. It fell from the previous year once: 2025 (−12.64%).
Operating income was largest in 2023 at KRW 619.9bn and smallest in 2025 at KRW −345.2bn. The operating margin was highest in 2022 at 9.7%.
Net income was largest in 2023 at KRW 180.5bn and smallest in 2021 at KRW −516.8bn.
2. Financial position — equity fell 23.9%
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 13.85tn | 1.09tn | 1171.5% | 45.5% |
| 2021 | 13.08tn | 521.1bn | 2410.6% | 49.0% |
| 2022 | 13.46tn | 715.6bn | 1780.2% | 47.6% |
| 2023 | 13.02tn | 810.3bn | 1506.3% | 39.5% |
| 2024 | 13.45tn | 1.00tn | 1240.8% | 56.3% |
| 2025 | 12.19tn | 829.0bn | 1370.2% | 38.3% |
The debt ratio was highest in 2021 at 2410.6% and lowest in 2020 at 1171.5%.
Over the same period total assets went from KRW 13.85tn to KRW 12.19tn (0.88x), and total equity went from KRW 1.09tn to KRW 829.0bn and fell 23.9%.
The current ratio was below 100% in all six years — current liabilities exceeded current assets every year. It ranged from 38.3% to 56.3%.
3. Cash flow — negative in 1 year
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | −405.5bn | −503.0bn | −46.2% |
| 2021 | 1.01tn | −516.8bn | −99.2% |
| 2022 | 1.86tn | 26.5bn | 3.7% |
| 2023 | 1.54tn | 180.5bn | 22.3% |
| 2024 | 1.46tn | −413.0bn | −41.2% |
| 2025 | 137.0bn | −292.5bn | −35.3% |
Operating cash flow was negative in 2020. It was largest in 2022 at KRW 1.86tn.
ROE was highest in 2023 at 22.3% and lowest in 2021 at −99.2%.
4. Latest half-year report (end of H1, 39th fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 3.52tn | 3.96tn | −11.03% |
| Operating income | −408.6bn | 48.5bn | turned to loss |
| Net income | −658.8bn | 323.4bn | turned to loss |
| Finance income | 80.3bn | 26.9bn | +197.88% |
| Operating cash flow | 76.2bn | — | — |
At the end of the period, total assets were KRW 11.95tn, total liabilities KRW 11.74tn and total equity KRW 213.6bn.
The cumulative operating margin was −11.6%.
No rate of change is computed for operating income and net income, because the sign changed between the two periods.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: Korean Air Lines Co., Ltd., stake 63.88%
- No cash dividend was reported in the 2025 annual report
- Employees: 7,479, average pay per employee KRW 91m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-26; ratios divide the filed account amounts.
This article is for information only and is not investment advice.