DETAILED INCOME STATEMENT AND FOOTNOTES

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INCOME STATEMENT (USD) Unaudited Unaudited PROFIT OR LOSS 1 January - 31 March 2014 1 January - 31 March 2013 Sales Revenue 2.315.274.851 2.014.565.690 Cost of Sales (-) ( 2.085.535.076) ( 1.769.113.

488) Other Operating Income 27.071.636 28.260.012 Other Operating Expenses (-) ( 7.166.078) ( 19.922.143) OPERATING PROFIT ( 82.467.300) ( 39.311.177) Income from Investment Activities 12.527.942 17.

1 INCOME STATEMENT (USD) Unaudited Unaudited PROFIT OR LOSS 1 January - 31 March January - 31 March 2013 Sales Revenue Cost of Sales (-) ( ) ( ) GROSS PROFIT/(LOSS) General Administrative Expenses (-) ( ) ( ) Marketing and Sales Expenses (-) ( ) ( ) Other Operating Income Other Operating Expenses (-) ( ) ( ) OPERATING PROFIT ( ) ( ) Income from Investment Activities Share of Investments' Profit / Loss Accounted By Using the Equity method ( ) OPERATING PROFIT BEFORE FINANCIAL INCOME/EXPENSE ( ) ( ) Financial Income Financial Expenses (-) ( ) ( ) PROFIT BEFORE TAX FROM CONTINUING OPERATIONS ( ) ( ) Tax Income/ Expense of Continuing Operations Current Tax Expense for the Period - - Deferred Tax (Expense)/Income PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS ( ) ( )

2 GROSS PROFIT (USD) Scheduled flights Passenger Cargo and mail Total scheduled flights Unscheduled flights Technical Revenue Other revenue Net sales Cost of sales (-) ( ) ( ) Gross profit GEOGRAPHICAL DETAILS OF REVENUE FROM THE SCHEDULED FLIGHTS (USD) - Europe Far East Middle East America Africa Total international flights Domestic flights Total revenue

3 OPERATING COSTS BY TYPE (USD) Fuel expenses Personnel expenses Depreciation expenses Ground services expenses Passenger service catering expenses Air traffic control expenses Landing and navigation expenses Short term leasing expenses Maintenance expenses Commissions and incentive expenses Reservation systems expenses Advertising and promotion expenses Operating lease expenses Service expenses Other rent expenses Communication and information expenses Insurance expenses Transportation expenses Tax expenses Consultancy expenses Utility expenses Membership fees System use and membership expenses Other expenses

4 COST OF SALES (USD) Fuel expenses Personnel expenses Depreciation expenses Ground services expenses Passenger service catering expenses Air traffic control expenses Landing and navigation expenses Maintenance expenses Short term leasing expenses Operating lease expenses Service expenses Insurance expenses Other rent expenses Transportation expenses Tax expenses Utility expenses Other expenses

5 GENERAL ADMINISTRATIVE EXPENSES (USD) Personnel expenses Depreciation expenses Communication and information expenses Service expenses System use and membership expenses Consultancy expenses Rent expenses Maintenance expenses Utility expenses Insurance expenses Tax expenses Other administrative expenses MARKETING, SALES AND DISTRIBUTION EXPENSES (USD) Commissions and incentive expenses Personnel expenses Reservation systems expenses Advertising and promotion expenses Rent expenses Tax expenses Consultancy expenses Communication and information expenses Depreciation expenses Service expenses Membership fees Fuel expenses Other sales and marketing expenses

6 OTHER OPERATING INCOME (USD) Foreign exchange gains on trade operations, net Insurance, indemnities, penalties income Grant credit income related to aircraft, engines and other purchases Provisions released TGS share premium Non- interest revenues from banks Late payment interest income Rent income Other operating income OTHER OPERATING EXPENSE (USD) Provision expenses Indemnity and penalty expenses Discount Interest expenses Foreign exchange losses on trade operations, net Other operating expenses Loss on sale of fixed assets INCOME FROM INVESTMENT ACTIVITIES (USD) Income from investment assistance Financial investment interest income

7 FINANCIAL INCOME (USD) Interest income Rediscount Interest income related to aircraft prepayments Gain on derivative financial instruments Foreign Exchange gain FINANCIAL EXPENSES (USD) Finance lease interest expenses Foreign exchange losses Losses on derivative financial instruments Finance lease administration expenses Rediscount interest expense related to aircraft purchases - - Cost of ETB interest Other financial expenses

2008 3Q Financial Results

2008 3Q Financial Results Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd. and is subject to updating, revision, amendment and