Jin Air Posts 73.1 Billion Won Operating Loss in Q2..."Higher Deficit Due to Elevated Oil Prices"
Jin Air announced on August 7 that it recorded a consolidated operating loss of 73.1 billion won in the second quarter of this year.
Revenue reached 360.3 billion won, marking a 17.7% increase compared to the same period last year. However, the scale of losses widened compared to the second quarter of last year (42.3 billion won) due to increased operating expenses, such as higher fuel costs from elevated oil prices.
For the first half of the year, cumulative revenue reached a record-high 783.3 billion won, up 8.2% year-on-year on a half-year basis. However, the company turned to an operating loss of 15.5 billion won for the period.
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The company stated that it expects improved profitability in the second half of the year, driven by peak season passenger demand and stabilization of oil prices and exchange rates. Jin Air also revealed plans to strengthen its cost competitiveness through route diversification and the introduction of new aircraft.
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