South Korea's largest budget airline Jeju Air reported a full-year operating loss of KRW336 billion (~USD $305 million).
In a regulatory filing the airline, Jeju Air's net loss for 2020 was KRW 313.8 billion (~USD $284.9 million), as sales fell 72.8% during the year.
During the same time period the year prior (2019), the airline reported a loss of KRW32.9 billion (~USD $29.7 million).
Amid the COVID-19 pandemic and government restrictions placed on entry, Jeju Air suspended most of its international flight network since last year. The airline currently is operating limited international services to cities such as Tokyo, Osaka, Weihai, Harbin, and Manila for business travel and Koreans living in those cities.
During the second of 2020, creditors and the South Korean government through the Key Industry Stabilization Fund extended loans worth around KRW 190 billion (~USD $171.8 million) to Jeju Air to help it continue its business amid the pandemic.