Jeju Air(089590) said in a filing on the 4th that its standalone operating loss for the second quarter was tentatively tallied at 52.4 billion won, up 16.5% from the same period a year earlier.
Revenue for the same period rose 40% to 441.7 billion won, and net loss increased 327.2% to 51.4 billion won, respectively.
Jeju Air said it achieved record-high second-quarter revenue thanks to flexible route operations responding to changes in customer demand and the resulting increase in passengers.
However, it noted that the operating loss was affected by higher expenses due to high oil prices and a strong dollar caused by the Middle East war.
Jeju Air, which has recorded more than 1 million passengers each month in the second quarter based on flexible demand response and continues to carry the most passengers among domestic low-cost carriers (LCCs), plans to focus on efficient route operations in the third quarter.
It also plans to continue cutting fuel costs and improving its structure by modernizing its fleet, increasing the next-generation B737-8 aircraft—of which it has 13 as of today—by two more by year's end.
A Jeju Air official said, "In the second half, we will strengthen our capacity to respond flexibly to market conditions through solid management and, based on that, continue to enhance our mid- to long-term competitiveness."