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Jeju Air Aims for Turnaround Next Year on Pent-up Demand

Jeju Air CEO Kim E-bae answers questions from reporters during a Q&A session at Mayfield Hotel in western Seoul on June 7, 2022, in this photo provided by the budget carrier.

Jeju Air CEO Kim E-bae answers questions from reporters during a Q&A session at Mayfield Hotel in western Seoul on June 7, 2022, in this photo provided by the budget carrier.

SEOUL, June 7 (Korea Bizwire)Jeju Air Co., South Korea’s biggest low-cost carrier, said Tuesday it is targeting to turn around next year as eased virus restrictions unleash pent-up travel demand.

Jeju Air posted net losses for three consecutive years through 2021 due to the impact of the COVID-19 pandemic on the airline industry.

Jeju Air’s net losses slightly narrowed to 273 billion won (US$217 million) in 2021 from 307 billion won a year earlier. In 2019, it logged a net loss of 33 billion won, shifting from a net profit of 71 billion won a year ago.

“It will be hard to make a turnaround this year due to uncertainties in major (destination) markets. But we aim for a turnaround next year as more Asian countries are expected to reopen…

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