Air Busan, Revenue Up and Losses Significantly Reduced ... Q3 Revenue 117.7 Billion KRW, Operating Loss 18.1 Billion KRW

Air Busan A321neo(LR) aircraft.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Air Busan recorded sales of 117.7 billion KRW and an operating loss of 18.1 billion KRW in the third quarter of this year, significantly reducing the deficit compared to the same period last year.

According to the third-quarter report disclosed by Air Busan on the 14th, sales increased by 195% compared to 39.9 billion KRW in the same period last year, and the operating loss decreased by 33.2 billion KRW from -51.3 billion KRW in the same period last year, reducing the deficit by 64.7%.

However, net income continued to show a loss due to increased foreign currency translation losses caused by the sharp rise in the KRW-USD exchange rate.

Air Busan cited the increase in international passengers and the continued strong performance of the Jeju route, due to the easing of overseas quarantine measures and immigration regulations, as the main factors for the improved performance.

In the third quarter, Air Busan expanded international flights to Guam, Saipan, and Southeast Asia routes by 580% compared to the second quarter of this year in preparation for the easing of overseas quarantine and the summer vacation season. As a result, the number of passengers increased by more than 700%, leading to increased sales.

Considering the continued use of the Jeju route despite the expansion of overseas travelers, about 600 additional temporary flights were added to the Jeju route in the third quarter alone, boosting sales.

An Air Busan official evaluated, "Timely responses to changes in the external environment led to the improved performance results."

Also, after Japan implemented visa-free entry in October, the number of Japanese travelers increased more than fourfold compared to the previous month within just one month. In response, Air Busan plans to resume flights on the Busan-Sapporo and Narita routes and add more flights on major Japanese routes.

Additionally, flights on the Busan-Nha Trang, Taipei, and Hong Kong routes are also set to resume soon.

An Air Busan representative said, "We were able to significantly improve the deficit through the full-scale resumption of overseas travel and prompt responses accordingly. In the fourth quarter, we will strive to improve performance and restore shareholder value by resuming and expanding flights on Japanese and major international routes."

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