Jin Air Reports Operating Loss of 184.7 Billion KRW Last Year... Largest Deficit in History
[Asia Economy Reporter Lim Chunhan] Jin Air announced on the 4th that its operating loss last year was 184.7 billion KRW, a 278% increase compared to the previous year (48.8 billion KRW).
Sales amounted to 271.8 billion KRW, a 70.1% decrease from 910.2 billion KRW in 2019. Net loss also widened from 56.7 billion KRW to 190.4 billion KRW.
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Jin Air explained, "Performance was poor due to a sharp decline in business volume caused by the prolonged COVID-19 pandemic." It added that it focused on defending performance through expanding domestic routes, strengthening cargo business, and reducing costs.
This content was produced with the assistance of AI translation services.
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