Jin Air Swings to Q3 Operating Profit from Year-Earlier Loss as Revenue Rises 35.7%

Cumulative Operating Loss Widened

Jin Air returned to profitability in the third quarter, buoyed by an expansion of its Japan routes amid the weak yen and growing demand from China.

Jin Air B737-800. Jin Air

Jin Air said on Nov. 6 that its revenue for the third quarter of this year rose 35.7% from a year earlier to KRW 413.1 billion.

Operating profit in the third quarter came to KRW 7.8 billion, a turnaround from an operating loss of KRW 22.5 billion in the same quarter last year. Net income also turned around, rising to KRW 31.2 billion from a net loss of KRW 27.5 billion over the same period.

On a cumulative basis through the third quarter, Jin Air recorded an operating loss of KRW 7.7 billion, widening from the same period a year earlier.

A Jin Air official said, "Despite a challenging business environment, including high oil prices, we focused capacity on routes with high profitability and returned to operating profit in the third quarter compared with the same period last year. With favorable factors such as the weak yen and the trend toward exchange-rate stabilization coexisting with external risks such as oil price volatility, we expect complex volatility in the business environment to persist."

The official added, "We will focus on preparations for the launch of 'Integrated Jin Air,' scheduled for March next year, while strengthening our comprehensive operational safety system."

This content was produced with the assistance of AI translation services.