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Jeju Air to cut nearly 1,900 flights in Q1

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Jeju Air to cut nearly 1,900 flights in Q1

2025-01-11 14:59 Last Updated At:18:07

Jeju Air announced on Wednesday that it plans to reduce nearly 1,900 flights in the first quarter of 2025.

The company will cut 1,878 flights by the end of March this year, accounting for approximately 15 percent of the total flights, with international flights making up 55 percent.

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Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

After the fatal Jeju Air plane crash accident, the trust of the South Korean people in low-cost carriers of South Korea has significantly decreased, with many canceling their tickets or switching to flights of major airlines.

According to the South Korean aviation industry, the ticket booking rates for major airlines have recently approached 90 percent, and those for low-cost carriers are only 50 percent.

Taking into account of factors such as overall ticket sales and cancellation rates, according to local media reports, it is estimated that seven low-cost airlines in South Korea will incur losses as high as 500 billion won (about 340 million U.S. dollars) in the first quarter of this year.

"I originally planned to become a flight attendant after graduation, but recently, due to the air crash, I began to reconsider my career path," said a resident in Seoul.

"Safety is the most important. Even if the price is higher, I will choose the airline that is safer," said another resident in Seoul.

At the same time, the tourism market has also been severely impacted in the country.

Recently, the cancellation rate of reservations at some medium and large travel agencies in South Korea has increased by about 30 percent compared to previous years, especially in the vicinity of the airplane crash site at Muan International Airport, where cancellations are more prominent.

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

Jeju Air to cut nearly 1,900 flights in Q1

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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