Predict your next investment

Jin Air company logo
AUTOMOTIVE & TRANSPORTATION | Air
jinair.com

See what CB Insights has to offer

About Jin Air

Jin Air is a South Korean low-cost airline. Jin Air operates flights to six domestic cities and 26 international destinations. Jin Air's headquarters are in Gangseo-gu, Seoul

Jin Air Headquarter Location

453 Gonghang-daero, Gangseo-gu

Seoul,

South Korea

Latest Jin Air News

Korea’s full-service carriers manage profit H1, LCCs still in the red2021.08.18 13:15

Aug 18, 2021

Korea’s full-service carriers manage profit H1, LCCs still in the red 2021.08.18 13:15:26 | 2021.08.18 13:15:33 Receiver [Photo by Han Joo-hyung] South Korea’s two flagship full-service carriers sustained a profit in the first half as they continued to carry cargoes in place of passengers amid ongoing pandemic crisis while budget carriers remain in the red. Korean Air Lines Co. delivered an operating profit of 196.9 billion won ($167.4 million) on revenue of 1.95 trillion won in the first six months of this year, while its smaller peer Asiana Airlines Inc. posted an operating profit of 83.6 billion won with revenue of 1.72 trillion won. Their revenue from freight services rose to record highs in the second quarter – 1.51 trillion won (up 23.2 percent on year) for Korean Air Lines and 708.2 billion won (up 11 percent) for Asiana Airlines. Both airliners have been carrying cargoes instead of passengers on their long-haul routes with international travel still at a standstill. Korean Air serviced its aircrafts carrying cargoes on 65 routes and expanded deliveries of vaccines, medical kits and other hygiene products. Rising cargo shipping rates also drove the earning growth in the full-service carriers. Airfreight rates from Hong Kong to North America rose to $7.9 per kilogram in July, exceeding last year’s highest rates of $7.73, according to figures from the TAC Index. Budget carriers largely dependent on passenger flights are still mired in the red. Jeju Air logged an operating loss of 158.5 billion won in the January-June period on sales of 116.9 billion won. Jin Air incurred an operating loss of 108.9 billion won with sales of 107.3 billion won, while T’way Air reported an operating loss of 80.1 billion won on revenue of 92 billion won. They managed to reduce losses as passengers traveling on domestic routes normalized to 3 million in monthly number but their bottom line suffers from fierce competition on domestic flights. LCC newcomer Air Premia has launched its service on the route between Gimpo and Jeju Island, and Eastar jet under court receivership is expected to resume flight operation by the end of the year. The LCC industry is battling to stay afloat through stock sales to existing shareholders. Jeju Air and Jin Air announced their recapitalization plan earlier on snowballing losses. Jeju Air plans to carry out capital reduction at a ratio of 5:1 and issue 210 billion won worth new shares next month. Jin Air is preparing the offering of 108.4 billion won in new shares and 75 billion won in perpetual bonds to pay off debt and costs to survive the ongoing virus environment. By Lee Ha-yeon WED

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Jin Air Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Jin Air Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.