(MENAFN) South Korea's Jeju Air Co. reported a record quarterly operating profit in the first quarter of this year on increasing demand for low-cost tickets for traveling, Yonhap News reported.
Operating profit came to an all-time quarterly high of USD19.6 million in the January-March period, up from USD4.5 million a year earlier, the company said in a press release.
Meanwhile, sales also grew 22 percent on-year to a record high of USD133.85 million. The company, owned by Aekyung Industrial Co., did not release its net profit for the quarter.
The company attributed the record results to expanded domestic routes and the launch of new international flights such as those between Busan and Guam, and Daegu and Beijing.
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