Korean Air posts Q3 net profit on lower fuel costs

SEOUL, Nov 10 (Reuters) - South Korea's top airline Korean Air Co (003490.KS) posted its second straight quarterly net profit as lower fuel costs helped its recovery in the slowly stablising airline industry.

Korean Air, the world's biggest air cargo carrier, reported on Tuesday a net profit of 264 billion won ($228.7 million) for the third quarter, slightly below a consensus forecast of 279.4 billion won from Thomson Reuters I/B/E/S.

The result improved sharply from a 684.1 billion won net loss a year earlier and a 78.5 billion won profit in the April-June quarter.

Korean Air also swung to an operating profit of 100.1 billion won, against losses a year earlier and in the previous quarter and below a consensus forecast of 144.4 billion won.

In the third quarter, fuel costs shrank 40 percent from a year earlier while a slight increase in passenger flight demand also helped. The recovering won KRW= is expected to help Korean Air, which pays for fuel and aircraft leasing in dollars.

Shares in Korean Air rose 20 percent so far this year, while the broader market gained 40 percent. ($1=1154.1 Won) (Reporting by Shin Jieun; Editing by Jonathan Hopfner)