Jeju Air, the fourth quarter earnings meet market expectations - one

Excluding the one-off costs against Korea hyerin nine financial newspaper reporters - one financial investment was assessed 20 days Jeju Air has recorded the performance to meet the expectations 4Q11. This recommendation is made BUY, TP remains 4 million.

Jeju Air's fourth quarter operating profit fell short of the consensus 43 billion.

One financial investment sinminseok researchers' Given the one-off cost of 4.7 billion won a performance in line with market forecasts to nine billion won, said, "airline though since fuel costs are rising '10 2016 May Price (Yield) is dropped while 4Q09 earnings of domestic airlines this was sluggish "he said.

However, when excluding one-off costs in Jeju Airlines Price declines were recorded performance to meet the expectations. New researchers described as "national excellent low cost airlines Among financials, high season and low season earnings volatility is low high earnings stability, said," Given the limited oil prices, aggressive substrate introduction we expect earnings growth.

Meanwhile, Jeju Air is 4 quarter 2016 revenues recorded a 23.3% increase in 1907, respectively. Based on domestic and international traffic growth despite the 4.8% and 38.8% respectively as costs decline revenues grew by 23.3%.

New Researchers' 1Q12 operating profit is projected to slightly decrease compared to the previous year to 13.2 billion won off-season value-added services while maximizing revenues but to continue the efforts to improve profitability, with sales growth "said," the beginning of the year after passenger traffic by 30% over and above, but because the previous year, he said high oil prices and the limited price gains are sustainable. "

This, he said, in the long run to maintain a stable load factor increases, the off-season and competitive ticket prices while expanding its differentiated value-added services revenues maintained a strategy to maximize profitability continue to reduce the high season and low season earnings volatility.



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