Jin Air Co., the budget carrier unit of Korean Air Co., said Tuesday it shifted to a net profit in the first quarter from a year earlier on improved travel demand amid eased COVID-19 virus curbs.
Jin Air swung to a net profit of 60 billion won (US$45 million) in the three months ended in March from a net loss of 31 billion won during the same period of last year, the company said in a statement.
Resumed flights on existing international routes to Southeast Asia and Japan, and new routes to Okinawa, Sapporo and Nha Trang helped the company make a turnaround in the first quarter, it said.
The low-cost carrier also shifted to an operating profit of 84.9 billion won in the March quarter from an operating loss of 46.4 billion won a year ago. Sales more than quintupled to 352.5 billion won from 67.5 billion won.
The company said it will focus on further diversifying routes and securing its workforce amid a global economic slowdown in the coming quarters.
Source: Yonhap News Agency