Jin Air(272450) said in a filing on the 7th that its standalone operating loss for the second quarter this year was tentatively tallied at 73.1 billion won, with the size of the deficit increasing 72.9% from a year earlier.
Sales for the same period rose 17.7% to 360.3 billion won, and the net loss came to 67.5 billion won. The net loss increased 329.7% from the same period last year.
Jin Air said that while sales continued to grow thanks to flexible route operations, operating expense increased due to high oil prices, widening the deficit.
It added that in the second half, amid expectations for improved profitability as oil prices and exchange rates stabilize, it plans to focus on defending the bottom line by strengthening cost competitiveness through route diversification centered on preferred regions such as Japan and China and the introduction of high-efficiency aircraft.
Jin Air also said it will maintain its safe flight system and secure a foundation for sustainable growth by preparing without disruption for the launch of an integrated low-cost carrier (LCC).