Jeju Air Q1 2026: Consolidated operating profit of 69 billion won, turnaround from loss; pursuing asset sales and liquidity for financial improvement

Q1 2026 consolidated: Revenue 516.2bn won, operating profit 69.0bn won, net profit 16.7bn won (vs. operating loss 111.7bn won and net loss 116.4bn won in Q1 2025, a turnaround)
Debt-to-equity ratio 782% (up from 754% at end-2025), total liabilities 2,270.3bn won, equity 290.2bn won
Net foreign currency liabilities (mainly USD, JPY) 818.7bn won (liabilities 922.7bn vs. assets 104.0bn); 5% won depreciation increases operating costs by 6.1bn won
Post-report period major asset sales: 3 aircraft (144.7bn won), AKIS stake (43.3bn won), hotel business (54bn won) - aimed at improving liquidity and financial structure
Issued 100bn won of hybrid securities (6.5% coupon, maturity 2055, callable) to boost equity, but if classified as debt, debt ratio would surge to 1,246%

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