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22-Mar-2010 11:59 AM

Korean LCCs report deep operating losses in 2009

South Korea’s Ministry of Land, Transport and Maritime Affairs stated the country’s LCCs reported losses in 2009 (Korea Times, 21-Mar-2010). Details include:

  • Revenue:
    • Jeju Air: USD77.3 million, +39.7% year-on-year;
    • Air Busan: USD63.4 million, n/a;
    • Easter Jet: USD38.7 million, n/a;
  • Operating profit (loss):
    • Jeju Air: (USD24.0 million);
    • Air Busan: (USD7.3 million);
    • Jin Air: (USD8.7 million);
    • Easter Jet: (USD15.3 million).

*Based on the conversion rate at USD1 = KRW1,136

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