Air Busan CEO Byeongseok An Purchases 10,000 Company Shares... Expresses Commitment to Responsible Management

Byeongseok Ahn, CEO of Air Busan.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Duyul] Air Busan CEO Ahn Byung-seok expressed his commitment to responsible management by purchasing 10,000 shares of the company's stock.

According to Air Busan's disclosure on the Financial Supervisory Service's electronic disclosure system on the 7th, CEO Ahn Byung-seok purchased 10,000 common shares on the 5th through the stock market.

This purchase of company shares is interpreted as the CEO personally investing to demonstrate his commitment to responsible management amid a continued decline in stock prices despite recent positive travel-related developments such as Japan's visa-free entry allowance.

An Air Busan official stated, "CEO Ahn's purchase of company shares expresses confidence in a performance rebound and a commitment to increasing corporate value and stock price," adding, "All executives and employees will do their utmost to enhance shareholder value."

Air Busan is focusing on business normalization thanks to the decline in COVID-19 cases and the lifting and easing of entry restrictions by various countries.

The airline plans to significantly increase flights on Japanese routes in line with the visa-free entry allowance to Japan starting on the 11th, and by the end of the year, it will resume operations on routes such as Busan-Narita and Sapporo, which had been suspended.

Given that before COVID-19, passengers on Japanese routes accounted for 40% of all international flights and Air Busan had a strong presence on these routes, a clear improvement in performance is expected going forward.

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