'Soared High' Jeju Air's Record-Breaking Q1 Performance

Sales of 422.3 Billion KRW, Operating Profit of 70.7 Billion KRW
Best First Quarter Performance Since Establishment
Revenue Diversification Through Additional Services and Cargo Expansion

Jeju Air posted its highest-ever performance in the first quarter. On the 9th, Jeju Air announced, "We recorded consolidated sales of 422.3 billion KRW and an operating profit of 70.7 billion KRW," adding, "Following a return to profitability in the fourth quarter of last year, we have posted profits for two consecutive quarters."

The highest first-quarter performance before this was 392.9 billion KRW in Q1 2019. At that time, Jeju Air operated 40 aircraft. In the first quarter of this year, the number was fewer at 37, yet the performance was better. Compared to Q1 last year, sales increased by 422.7%. Operating profit also turned from a loss to a profit. The operating profit margin of 16.8% is also the highest ever for a first quarter.

The main reasons cited for achieving this record performance include flexible supply expansion in response to demand from Japan and Southeast Asia. Additionally, introducing value-added services such as sports memberships and golf memberships to build a sustainable growth foundation contributed to the performance increase. Expanding the cargo business also helped boost sales.

Jeju Air stated, "Although uncertain economic outlooks may pose variables, we expect to improve our financial structure by establishing a stable profit base through superior cost competitiveness compared to other companies and securing aircraft to enhance competitiveness."

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