Air Premia, a medium- and long-range low-cost carrier (LCC), announced on the 17th that its separate operating profit for last year was 40.9 billion won, an increase of 119.9% compared to the previous year.
During the same period, sales rose to 491.6 billion won, an increase of 31.1%. Last year's net profit was 5.9 billion won, turning from a loss of 20.9 billion won the previous year.
Air Premia noted that this marks the first annual net profit since its establishment, following the record-high sales and operating profit last year, and is significant in achieving the profit targets set for the year.
The company stated that the factors contributing to its record performance included ▲ a passenger business centered on profitable long-haul flights ▲ a stable cargo business utilizing Valley Cargo ▲ efficient distribution of fixed costs and operation of supplementary businesses.
Park Kwang-eun, Air Premia's head of finance, said, "We overcame various variables such as global economic downturn, high oil prices, and soaring exchange rates to achieve annual net profit in our fourth year of operations," adding that "this year, we aim to achieve over 750 billion won in sales by introducing additional aircraft and diversifying routes to leap forward as a global airline."