Jeju Air

 

[Alpha Biz= Reporter Kim Sangjin] Jeju Air achieved its highest-ever revenue for the first half of the year. However, the airline reported an operating loss of 9.5 billion won in Q2, reflecting the traditional off-peak season impact.

For Q2, Jeju Air posted separate financials of 427.9 billion won in revenue, 9.5 billion won in operating loss, and 21.4 billion won in net loss. Despite a 15.7% increase in revenue compared to the previous year, both operating profit and net profit turned negative.

In the first half of the year, Jeju Air recorded revenue of 967.1 billion won, an operating profit of 65.6 billion won, and a net profit of 21.7 billion won. These figures represent a 22.1% increase in revenue but a 30.1% decrease in operating profit and a 68.1% decrease in net profit compared to the same period last year. The revenue for H1 is the highest since the company’s inception.

The airline attributed the Q2 losses to high exchange rates and rising global supply chain issues, which have led to increased costs for aircraft leasing, maintenance, and fuel. The average exchange rate for the year stood at 1,371 won, up about 60 won from the previous year and around 200 won higher than the same period in 2019, contributing to higher operational costs.

 

 

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