Jin Air said in a filing on the 19th that it swung to a loss, with a preliminary operating loss of 16.3 billion won last year. It was the first annual loss in three years since 2022, when the impact of the COVID-19 pandemic continued.
Revenue was 1.3811 trillion won, down 5.5% over the same period, and the net loss was a preliminary 8.8 billion won, showing a swing to loss from 95.7 billion won in 2024.
Jin Air said annual passengers rose 2% year over year to 11.24 million last year, but results deteriorated as fares fell due to weaker profitability stemming from stagnant domestic travel demand, a strong dollar, and increased seat supply by domestic low-cost carriers.
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