Seoul: Jeju Air on Monday reported a fourth-quarter net loss of 40.8 billion won (US$27.9 million), remaining in the red compared with a year ago. Operating income for the October-December period was 18.6 billion, compared with a loss of 40.3 billion won a year ago, the company said in a regulatory filing. Revenue rose 5.4 percent to 474.6 billion won.
According to Yonhap News Agency, despite an increase in revenue, Jeju Air continues to struggle to overcome its financial difficulties. The airline's revenue growth of 5.4 percent to 474.6 billion won indicates some positive movement, but it has not been sufficient to offset the ongoing losses. The company's operating income showed improvement, achieving 18.6 billion won, in contrast to a loss of 40.3 billion won in the same period the previous year. However, the net loss figures reveal that Jeju Air is still facing significant challenges in its financial performance.