The earnings report of Jin Air, to be released on Dec. 8, will show a hike in profit, said KTB Investment and Securities on Nov. 20, suggesting a “buy” recommendation and 40,000 won (US$36.42) target price.
Its net profit this year will soar 75.2 percent from last year and will hike 27.8 percent next year, the highest among low-cost carriers worldwide, said analysts Lee Han-jun and Shin Ji-yun.
Despite the over 30 percent fuel price hike next year, its operating profit will leap, forecast the analysts estimating that the company’s revenue will reach 1.7 trillion won in 2018, up 21.9 percent from 2017.
It has already finalized plans to add five aircrafts next year, and is considering an additional large plane which will further push the profits, they added.
By Hwang You-mee (email@example.com