CORRECTED - CORRECTED-Korean Air posts Q1 net loss as weaker won hurts
(Corrects year-ago net loss figure and revises Q4 net loss in third paragraph)
SEOUL, May 7 (Reuters) - Korean Air Co (003490.KS), South Korea's top airline, reported on Thursday its sixth consecutive quarterly net loss as the benefit of lower fuel prices was outweighed by currency-related losses and higher interest costs.
Korean Air posted a 526.3 billion won ($409.7 million) net loss in the January-March quarter, in line with an average forecast for a 530 billion won loss from Reuters Estimates.
The result compares with a 325.5 billion won loss a year earlier and a 644 billion won deficit in the fourth quarter last year.
While a quick recovery in travel and cargo demand is unlikely, Korean Air, the world's biggest air cargo carrier, is expected to benefit from the recent strengthening of the won and stabilising oil prices.
Shares in Korean Air rose 10 percent so far this year through Wednesday, lagging the broader market's 24 percent gain. ($1=1284.6 Won) (Reporting by Shin Jieun and Rhee So-eui; Editing by Jonathan Hopfner)
