Jin Air posts W9.8 billion net profit in 2012

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South Korean low-cost carrier Jin Air posted a net profit of Korean won (W) 9.8 billion ($9.05 million) in 2012.

Its operating profit stood at W14.5 billion, exceeding its target by more than two times, and revenue was at W248 billion, says the Korean Air subsidiary.

The airline attributed its performance, its record best, to its strategy of expanding into routes where other low-cost carriers have not. These include the Jeju-Taipei Taoyuan route, and routes from Seoul Incheon to Vientiane, Yantai and Okinawa.

This year, the airline plans to introduce two more aircraft. Last year, it added two Boeing 737-800s.

Jin Air was established in 2008 by Korean Air and serves 12 international destinations from Seoul Incheon and Jeju. It operates nine 737-800s.