T'way Air Reports 810.4 Billion KRW in Revenue and 19.2 Billion KRW Operating Loss Last Year

Record High Sales... 19.2 Billion Operating Loss Due to Domestic and External Adversities

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] T'way Air announced on the 6th that its consolidated sales for last year were 810.4 billion KRW, and it recorded an operating loss of 19.2 billion KRW, according to a preliminary investigation.

The sales of 810.4 billion KRW recorded by T'way Air is the highest ever since its establishment, representing a 10.7% increase compared to the same period last year. With this, T'way Air has narrowed the gap with Jin Air, which ranks second in sales with 910.1 billion KRW, to less than 100 billion KRW.

On the other hand, due to the boycott of travel to Japan and the supply-demand imbalance effects in Southeast Asia, it recorded an operating loss of 19.2 billion KRW. This marks a return to a deficit compared to the previous year.

However, the industry views T'way Air's operating loss as not being as large compared to its competitors. T'way Air explained, "This is due to increased operating expenses such as lease fees caused by the rise in exchange rates and non-operating expenses recognized from foreign currency translation losses."

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