Jeju Air aiming for USD16m operating profit in 2013 as focus turns to sustainable growth
Jeju Air, releasing its 2013 business plan, said it plans to "reinforce the fundamentals for sustainable growth" in 2013, according to a Joongang report. The LCC, controlled by Aekyung Group, added: “We will focus on our core abilities, polish our brand image and upgrade our competitiveness to become a global airline.” The airline said it hopes to reach KRW480 billion (USD439 million) in sales for 2013, a 40% year-on-year increase from 2012 estimates, with plans for a KRW17 billion (USD15.5 million) operating profit. To achieve its goal, Jeju Air plans to expand services to China with three or four additional Chinese cities by no later than Mar-2013 operated as irregular services as the two nations have yet to reach a full open skies agreement. The carrier will also expand in Japan and southeast Asia, with the addition of two additional aircraft in 2013. It aims to serve 4.95 million passengers in 2013, up from 3.82 million in 2012.