Korean Air sees 07 profit tumbles on oil-report

SEOUL, Jan 17 (Reuters) - Korean Air Co (003490.KS), South Korea's top airline, is expected to post a sharp fall in 2007 net profit due to higher oil prices, a local online news provider reported on Thursday, citing the company's president.

Korean Air is likely to post a net profit of around 200 billion won ($212.8 million), EDaily quoted quoted president Lee Jong-hee as saying.

The company reported 383 billion won in net profit in 2006, according to a filing to the Korea Exchange.

"Global airlines are facing a tough time due to higher oil prices. This year's results would be similar to last year due to oil," he was quoted as saying.

Korean Air was not available for comment. (Reporting by Cheon Jong-woo; Editing by Keiron Henderson)