10-Jan-2011 11:31 AM

South Korea's LCCs report improved financial results in 2010

South Korea's LCCs reportedly the following improved financial results for 2010 (Yonhap, 10-Jan-2011):

  • Jeju Air: Reported KRW160 billion (USD143 million) in sales, a 80% year-on-year increase. Its operating loss was a smaller-than-expected KRW5 billion (USD4.5 million);
  • Jin Air: Revenues almost doubled to a record KRW120 billion (USD107 million). The company reported an operating profit of KRW7 billion (USD6.2 million); 
  • Air Busan: Estimates to have recorded revenue of KRW120 billion (USD107 million) in revenue, a 70% year-on-year increase. The carrier is expected to have reported an operating profit of KRW4 billion (USD3.6 million) in the period; 
  • Eastar Jet: Posted KRW108 billion (USD96 million) in revenue for a 145% year-on-year increase. The carrier reported an operating loss of KRW5 billion (USD4.5 million).