Jeju Air Q1 Operating Profit 75.1 Billion KRW... Highest Quarterly Record Ever

Jeju Air announced on the 7th that it recorded its highest-ever quarterly performance with sales of 539.2 billion KRW and an operating profit of 75.1 billion KRW in the first quarter of this year.

Sales and operating profit increased by 27.7% and 6.2%, respectively, compared to the same period last year. Net profit for the period was 43.1 billion KRW, a decrease of 10.5% compared to the same period last year.

Compared to the first quarter of 2019, before COVID-19, sales increased by 37.8% and operating profit by 29.9%.

Jeju Air explained that strong demand for medium- and short-haul travel drove the solid performance. In the first quarter of this year, Jeju Air transported approximately 18.134 million passengers on 54 medium- and short-haul routes including Japan, Greater China, six Southeast Asian countries, Guam, Saipan, and Mongolia.

As of the end of the first quarter this year, Jeju Air had a total of 40 passenger aircraft, the same number as in the first quarter of 2019, but sales were higher than then.

Jeju Air stated that through proactive and flexible route management tailored to strong medium- and short-haul travel demand, it was able to minimize the impact of delayed recovery on China routes.