Air Busan (298690.KS) reported second-quarter revenue of 235.3 billion won and an operating loss of 35.5 billion won, the company said in a regulatory filing on the 27th.
The results reflect a heavier fuel cost burden from high oil prices driven by war in the Middle East, along with weakened profitability due to a rising exchange rate.
Revenue rose 37% from 171.4 billion won a year earlier, but the operating loss widened 219% from a loss of 11.1 billion won in the same period last year.
Net profit also swung to a loss over the same period, moving from 27.7 billion won to a loss of 61.8 billion won.
Cumulative first-half revenue was 493 billion won, with an operating loss of 5.1 billion won.
In the first half of last year, the company reported revenue of 420.9 billion won and operating profit of 29 billion won.
"We will enhance profitability through flexible supply operations, such as increasing flights on major routes to meet summer peak-season travel demand, and by expanding short-haul charter flights centered on Japan and China," an Air Busan official said. "In particular, we will prepare without setbacks for the launch of the Busan-Guangzhou route, for which we have secured traffic rights, within this year to diversify our route portfolio."
