Trinity Airways Q1 2026: Operating Profit Turned Positive, Revenue Up 37%, Debt Ratio Improved to 1,947%

Consolidated Q1 2026 revenue KRW 612.2B (up 37% YoY), operating profit KRW 19.2B (vs loss), net loss KRW 16.7B.
Debt ratio improved to 1,947% (from 3,499% at end-2025), total equity KRW 107.3B.
Credit rating BB- (stable) maintained (July 2025).
New majority shareholder Sonomo International (41.95%) driving group synergy.
No dividend or share buyback: insufficient distributable profits.
Pending lawsuits: KRW 0.5B tax lawsuit, KRW 3.16B wage lawsuit.
Plans to add 16 aircraft in 2026 (8 B737-8, 6 A330-900, etc.).
Rights offering completed: 76,985,450 new shares listed in April 2026.

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