Korean Air Up on Earnings Surprise Despite Fuel Fears

Korean Air Lines Co. shares climbed after South Korea’s largest flag carrier delivered a first-quarter earnings surprise, defying mounting concerns about jet fuel shortages and surging costs amid the Middle East crisis.

The airline posted an operating profit of 516.9 billion won ($348.7 million) for the three months ended March 31, up 47% from a year ago, according to a regulatory filing. Revenue grew 14.1% to 4.5 trillion won, marking the highest sales the company’s ever had during the first quarter.