Air Busan clears all losses, reports accumulated operating profit of USD3.5m as of Aug-2012

Air Busan reported (12-Sep-2012) the carrier has cleared all losses for an accumulated profit of KRW3400 million (USD3.0 million) as of 31-Aug-2012. The carrier reported KRW146,800 million (USD129.1 million) in revenue, KRW4000 million (USD3.5 million) in operating profit and KRW5600 million (USD4.9 million) in net profit in the first eight months of 2012. Air Busan, which launched operations in 2008, reported its first annual profit in 2010. Details of the carrier's financial highlights are as follows:

• 2008:
  
  • Revenue: KRW5900 million (USD5.2 million);
  • Operating profit (loss): (KRW8700 million) (USD7.6 million);
  • Net profit (loss): (KRW6300 million) (USD5.5 million);
• 2009:
  
  • Revenue: KRW72,100 million (USD63.4 million);
  • Operating profit (loss): (KRW8300 million) (USD7.3 million);
  • Net profit (loss): (KRW6300 million) (USD5.5 million);
• 2010:
  
  • Revenue: KRW120,800 million (USD106.2 million);
  • Operating profit: KRW3700 million (USD3.3 million);
  • Net profit: KRW5700 million (USD5.0 million);
• 2011:
  
  • Revenue: KRW177,600 million (USD156.1 million);
  • Operating profit: KRW2100 million (USD1.8 million);
  • Net profit: KRW4700 million (USD4.1 million);
• 1H2012:
  
  • Revenue: KRW105,700 million (USD92.9 million);
  • Operating profit: Breakeven;
  • Net profit: KRW300 million (USD263,746);
• Jul-2012 to Aug-2012:
  
  • Revenue: KRW41,100 million (USD36.1 million);
  • Operating profit: KRW4000 million (USD3.5 million);
  • Net profit: KRW5300 million (USD4.7 million). [more - original PR - Korean]