Jeju Air recorded the highest number of passengers among domestic low-cost carriers (LCCs) through February this year.
According to finalized statistics from the Ministry of Land, Infrastructure and Transport's Aviation Information Portal System on the 1st, Jeju Air carried a total of 2,244,191 passengers, including 1,176,532 in January and 1,067,659 in February. This is a 27.5% increase from 1,760,402 during the same period last year.
Next, T'way Air ranked second with 2,163,114, followed by Jin Air with 1,902,858, AIR BUSAN with 1,303,587, and Eastar Jet Co. with 1,178,202.
During the same period, Jeju Air's load factor was 94.5% on domestic routes and 91.3% on international routes. This exceeds the average for domestic LCCs of 90.9% on domestic routes and 89.2% on international routes.
Jeju Air's recent results are also showing a recovery. It posted an operating profit of 18.6 billion won in the fourth quarter of last year, returning to the black for the first time in five quarters since the third quarter of 2024. Revenue rose 5.4% from a year earlier.
A Jeju Air official said, "Structural improvements through a higher share of next-generation aircraft, expense structure efficiencies, and more sophisticated route operation strategies have been effective, and results have recently been improving."
Jeju Air said that, as profitability has deteriorated due to several headwinds such as rising oil prices and a weaker won, it plans to focus on solid internal management this year. It will work to manage liquidity and financial ratios by selling owned asset holdings, while building an efficient operating system by strengthening organizational capabilities.
It will also continue efforts to accelerate digital transformation using artificial intelligence (AI) across the business to upgrade existing systems. In addition, it will expand investment in strengthening the safety management system and improving core flight infrastructure to focus on restoring trust.
In financial markets, Jeju Air is expected to show a solid trend of improving results in the first quarter of this year as well, following the fourth quarter of last year, on the back of the winter peak season and demand on Japan routes. Analyst Park Su-young at Hanwha Investment & Securities noted in a recently published report, "Although domestic LCCs are facing sluggish industry conditions, Jeju Air should be able to endure based on the basic strength it built up last year."