Jeju Air Posts 489.6 Billion Won in Q3 Revenue, 54.9 Billion Won in Operating Profit; Returns to Profit YoY
Weaker exchange rates and aircraft asset sales contributed
Jeju Air returned to profitability year over year in the third quarter, aided by a weaker exchange rate and aircraft sales.
Jeju Air disclosed on November 3 that it recorded revenue of 489.6 billion won and operating profit of 54.9 billion won on a separate basis in the third quarter of this year. Revenue for the first three quarters was provisionally tallied at 1.4295 trillion won.
Operating profit in the third quarter came to 54.9 billion won, reversing an operating loss of 59.9 billion won in the same period last year. Operating profit for the first three quarters also reached 66.9 billion won, turning around from an operating loss in the same period last year.
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Net income for the third quarter came to 203.2 billion won. Improvements in foreign currency-related gains and losses following the decline in the won-dollar exchange rate, as well as gains from the sale of aircraft assets, contributed to the improvement in net income.
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