April 19, 2024

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[THE INVESTOR] Jeju Air’s operating profit grew by 2,448 percent in the second quarter of this year compared to the same quarter last year, reaching a record high for twelve consecutive quarters, the airline said in a statement on Aug. 29.

Jeju Air recorded a second-quarter operating profit of 16.2 billion won ($14.4 million) and sales of 228 billion won, which was a 40.7 percent jump compared to the same period last year. 

A promotional image for Jeju Air. Jeju Air.

In the first half of the year, the company recorded sales of 468.2 billion won, up 39.7 percent from last year, and an operating profit of 43.5 billion won, an increase of 167.6 percent. The airline achieved the largest operating profit growth among listed domestic airlines over the past two quarters.

As of the first half of the year, Jeju Air reported an operating profit margin of 9.29 percent, the highest among three listed airlines. Jeju recorded a net profit of 32.1 billion won, while Asiana posted a net profit surplus of 21.3 billion won and Korean Air recorded a loss of 200.3 billion won. 

By Julie Jackson/The Korea Herald (juliejackson@heraldcorp.com)