April 26, 2024

• 

[THE INVESTOR] Jin Air’s operating profit in the fourth quarter last year beat market expectations, said Cape Investment and Securities on Feb. 2, raising the target price to 43,000 won (US$39.99) from 40,000 won.

Operating profit reached 19 billion won turning to black from the previous year, said analyst Shin Min-seok.

Despite the rising jet fuel costs and low traffic on its Hawaiian route, the expanding efficiency of large aircraft has secured stable profits. As it plans to add two more B777-200 this year, its growth and efficiency will continue to rise, said the analyst.

It is bringing in larger aircrafts on routes to Southeast Asia and Japan to meet steadily growing demand and its profitability is better than expected, noted Shin, adding that profit will remain on an upturn in the first half of this year due to the high passenger load. 

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