Jin Air Reports Operating Loss of 185.3 Billion KRW Last Year... "Impact of Prolonged COVID-19"
[Asia Economy Reporter Moon Hyewon] Jin Air recorded a loss of 185.3 billion KRW last year due to the prolonged COVID-19 pandemic.
Jin Air announced on the 15th that it posted sales of 247.2 billion KRW, an operating loss of 185.3 billion KRW, and a net loss of 133.6 billion KRW last year.
Sales decreased by 9% (24.6 billion KRW) compared to the previous year. The operating loss slightly widened by 0.6 billion KRW. The net loss decreased by 56.8 billion KRW.
According to the consolidated financial statements for 2020, sales were 271.8 billion KRW, operating loss was 184.7 billion KRW, and net loss was 190.4 billion KRW.
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Jin Air stated, "Due to the decline in international flights caused by COVID-19, we recorded poor performance," and added, "We expect the deficit to decrease as travel demand recovers in the second half of this year."
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