Japan and Southeast Asia Drive Jin Air's 3Q Operating Profit Up 23% Year-on-Year
Operating Profit of 40.2 Billion KRW... 8 Consecutive Quarters of Profit
Record Highest Sales for 3Q
Jin Air surpassed 40 billion KRW in operating profit for the third quarter of this year, continuing its streak of eight consecutive quarters of profitability. This is attributed to its flexible supply strategy that actively responded to market conditions.
Jin Air announced on the 7th that it posted provisional results of 364.6 billion KRW in sales and 40.2 billion KRW in operating profit for the third quarter of this year. These figures represent increases of 13.1% and 23.1%, respectively, compared to the same period last year. This is the highest quarterly sales on record and marks eight consecutive profitable quarters. Net profit also doubled from 21 billion KRW to 42 billion KRW during the same period.
A Jin Air representative explained, "The results are due to actively responding to market conditions through flexible supply," adding, "Diversifying revenue sources by launching new routes such as Incheon to Takamatsu, Japan, and resuming flights between Incheon and Hong Kong also contributed."
Looking ahead to the fourth quarter, despite ongoing volatility in oil prices and exchange rates amid international political instability, the company sees opportunities for business expansion, such as the allowance of visa-free entry to China.
With increasing demand in Southeast Asia during the winter season and steady travel demand on Japanese routes, Jin Air plans to flexibly respond to market demand by resuming flights and expanding supply.
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A Jin Air official stated, "We will continue to pursue route diversification, including launching new international flights from regional airports," and added, "We will actively respond to external environmental changes such as the restructuring of the aviation industry to enhance corporate competitiveness and strengthen safe flight operations."
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