Jin Air announced on August 8 that its revenue for the second quarter of this year was KRW 306.1 billion, a decrease of 0.7% compared to the same period last year. The company recorded an operating loss of KRW 42.3 billion for the second quarter of this year, turning to a loss from an operating profit of KRW 16 billion in the same period last year.
In the second quarter of this year, the growth in travel demand was dampened due to climate effects and increased exchange rate volatility. The company also shifted to an operating loss due to rising costs, including higher unit prices.
Jin Air plans to focus on defending its revenue in the second half of the year. Although domestic and global economic uncertainties are expected to persist, there are also opportunities from a recovery in demand during the extended Chuseok holiday and from visa-free entry policies in countries such as China and Mongolia. Accordingly, Jin Air intends to respond flexibly to market conditions through efficient fleet operations, including expanding capacity on key routes, operating charter flights, and continuously developing new routes.
A Jin Air representative stated, "Based on safety and trust, we will continue to maintain and strengthen the highest level of operational safety, enhance our competitiveness, and devote ourselves to preparing for the launch of the integrated LCC currently underway."
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