Air Busan’s sales increased 26.3 percent from 277.9 billion won (US$ 250.9 million) in 2013 to 351.0 billion won (US$ 316.5 million) in 2014. (image: ken H/flickr)
SEOUL, March 31 (Korea Bizwire) — Air Busan has announced that it will be the first low-cost carrier in Korea to distribute dividends. Asiana Airlines, the City of Busan, Seun Steel and 11 other Busan-based companies holding shares in the airline will be paid 500 won (US$ 0.45) per share, following a board decision on March 30.
Air Busan’s sales increased 26.3 percent from 277.9 billion won (US$ 250.9 million) in 2013 to 351.0 billion won (US$ 316.5 million) in 2014. The company also has seen its net profit after tax stay in the black for the past five years. Its net profit after tax reached 23.6 billion won (US$ 21.3 million) last year.
The airline currently has flights to 15 domestic and international destinations, and has the largest passenger share on its domestic routes. The company is set to add three more destinations to the total, and is hoping to maintain the highest passenger share on all of its routes.
Air Busan will open two new international routes, from Busan to Da Nang, Vietnam and Zhangjiajie, China, on April 1 and 9 respectively.
By Lina Jang (linajang@koreabizwire.com)
