Typhoons cost local airlines about 17 bil.

The two recent powerful typhoons have cost South Korean airlines about 17 billion won ($15 million) in lost sales at the end of the summer peak season, company officials said Tuesday.

Typhoons Bolaven and Tembin pounded South Korea with heavy downpours and strong winds late last month, forcing the cancellation of more than 860 domestic and international flights at airports in South Korea.

The typhoons are estimated to have cost Korean Air Lines Co., South Korea's largest carrier, between 5 billion won and 10 billion won in lost sales as bad weather conditions forced the cancellation of 359 domestic and international flights.

Asiana Airlines Inc. is believed to have suffered 3.3 billion won in lost sales, less than 1 percent of the No. 2 flag carrier's monthly revenue in passenger service.

The typhoons also dealt a financial blow to South Korea's budget airlines. Jeju Air Co. canceled 93 domestic and international flights, accounting for about 1.5 billion won in lost sales.

Air Busan Co., controlled by Asiana Airlines Inc., is believed to have suffered losses of about 450 million won incurred by the cancellation of 50 flights due to bad weather conditions.

"The real amount of the damage could be much higher as some airlines were conservative in their estimates of loss," an airline official said.

(Yonhap News)