Jeju Air Posts Second Consecutive Quarter of Profit, Ranks First Among LCCs in Passenger Numbers

*This content was translated by AI.

Jeju Air has achieved two consecutive quarters of profit, benefiting from the effects of selling its stake in Aekyung Industries.

Jeju Air recorded 498.2 billion won in revenue and 64.4 billion won in operating profit for the first quarter of 2026, securing its second consecutive quarter of profitability. This represents a 36.5% increase compared to 365.1 billion won in the first quarter of 2025.

Additionally, net profit for the first quarter of this year reached 12.2 billion won, marking a turnaround from a 35.7 billion won operating loss and a 24 billion won net loss in the first quarter of 2025.

Jeju Air attributed this improvement in performance to a restructuring of its revenue model and an increase in passenger demand. In the first quarter of this year, the airline introduced two B737-8 aircraft, its next-generation fleet, and improved fuel efficiency through the sale and return of aging aircraft. As a result, fuel costs decreased by approximately 16% compared to the previous year.

An increase in the number of passengers and a high load factor also contributed to improved profitability. The number of passengers in the first quarter of 2026 reached 3.311 million, a 24.2% increase compared to the first quarter of 2025, ranking first among domestic low-cost carriers. During the same period, the load factor stood at 91.9%, surpassing the industry average of 88.8% for domestic airlines.

A Jeju Air official, speaking to this newspaper by phone, stated, "We plan to build a sustainable revenue structure based on fleet modernization and efficient route operations."

Meanwhile, an aviation industry official stated, "The war in Russia and the blockade of the Persian Gulf are key factors for future trends. If the issues are resolved relatively quickly, it is expected that post-war reconstruction and stable oil price trends will allow for a positive position. Once fuel surcharges return to their proper levels, demand for overseas travel is expected to grow even further."

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*This content was translated by AI.