11-Oct-2010 11:23 AM

Jeju Air leads Korean LCCs back to profitability in 3Q2010

South Korea’s Ministry of Land Transport and Maritime Affairs reported the nation’s four LCCs returned to profitability in 3Q2010 from the previous corresponding period due to a surge in air traffic demand (Yonhap, 08-Oct-2010). The nation’s largest LCC, Jeju Air, reported an operating profit and net profit of KRW4.9 billion (USD4.4 million) and KRW3.2 billion (USD2.9 million), respectively, on the back of KRW46 billion (USD41.1 million) in revenue.