The deposit is 260 billion won...Jeju Air is in a "super emergency" situation due to the cancellation of the line. [Now News]

Since the Jeju Air flight disaster, flight reservations have been canceled one after another, raising concerns over deteriorating liquidity at Jeju Air.

According to an announcement by the Financial Supervisory Service on the 1st, Jeju Air's advance payment is about 260.6 billion won, the largest among low-cost airlines (LCCs) in Korea.

However, after the disaster, a significant cash outflow is inevitable due to the full refund and cancellation fee exemption policy.

According to Jeju Air, the number of flight cancellations reached about 68,000 from the 29th to 1 p.m. on the 30th of last month.

Most of the cancellations were reported to have occurred on the day of the disaster.

In particular, there is a possibility that the size of reservation cancellation will increase due to the boycott movement.

This is expected to lead to a cash outflow and a slowdown in operating cash flow from Jeju Air, with its current ratio of 39.4% far below the appropriate level (150%).

An official from Jeju Air said, "The cancellation volume is higher than usual, but new reservations are also being maintained," adding, "We are currently focusing only on dealing with the accident."

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