Jin Air Reports Operating Loss of 15.1 Billion KRW in Q2... Significant Reduction in Deficit

Sales of 126.4 Billion KRW

[Asia Economy Reporter Kiho Sung] Jin Air announced on the 12th that it recorded sales of 126.4 billion KRW and an operating loss of 15.1 billion KRW in the second quarter of this year.

Sales increased by 99% compared to 63.4 billion KRW in the second quarter of last year, and the operating loss significantly decreased compared to 48.8 billion KRW in the same period last year.

Net loss for the period decreased from 50.4 billion KRW in the second quarter of last year to 28.7 billion KRW this year.

Jin Air analyzed that sales increased and losses decreased compared to the same period last year due to the expansion of business volume following the easing of quarantine measures and the recovery of travel sentiment.

The number of international passengers transported in the second quarter was about 76,000, an increase of approximately 1300% compared to the same period last year.

Jin Air expects that although difficult management conditions such as the resurgence of COVID-19 and high exchange rates will continue in the second half of the year, travel demand will gradually recover.

A Jin Air official said, "We will operate routes flexibly and efficiently according to market conditions," and added, "We will do our best to secure profitability through continuous cost reduction efforts."