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The Korea Herald
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THE INVESTOR
April 26, 2024

Stocks & Bonds

[EQUITIES] ‘Jin Air to turn to black in Q2’

  • PUBLISHED :June 22, 2017 - 16:19
  • UPDATED :June 22, 2017 - 16:19
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[THE INVESTOR] Jin Air is likely to turn to black in the second quarter, said Hana Financial Investment on June 22, raising the target price of Hanjin KAL, its parent company to 37,000 won (US$32.44) from 31,000 won and maintaining a “buy” recommendation.



Hanjin KAL’s operating profit in the period will soar 327.1 percent on-year to 20.1 billion won despite the loss from its hotel unit, as the low-cost carrier will come out of red and post 12.6 billion won operating profit, said analyst Shin Min-seok.

Jin Air has suspended operating Incheon-Hawaii routes, passenger occupancy rate of which barely surpassed 40 percent last year, and instead utilized the large aircrafts to service Southeast Asia and Japan, pushing the occupancy rate significantly, said the analyst. 

Ticket price hike will continue in the third quarter as oil prices will decline while passenger demand will be stronger than expected, forecasted Shin

By Hwang You-mee (glamazon@heraldcorp.com)

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