An aerial view of Incheon International Airport / Courtesy of Incheon International Airport Corp.
Incheon International Airport Corp. (IIAC) has posted robust first-quarter earnings, backed by steady demand on routes to Japan and a rise in travelers from China, the airport operator said Tuesday.
The company reported that passenger traffic reached 19.78 million in the January-March period, up 7 percent from a year earlier. Its operating profit climbed 1.9 percent to 230.2 billion won ($156.3 million). Sales also jumped 5.4 percent to 706.8 billion won during the same period.
The growth was driven largely by sustained travel demand to Japan and a surge in Chinese visitors following the extension of visa-free policies for Chinese group tourists.
Increased traffic on these routes offset declines on Southeast Asian and Middle Eastern routes, where passenger numbers fell 4.7 percent and 16 percent, respectively, due to security concerns and reduced flight operations.
Despite ongoing geopolitical uncertainties — including the Russia-Ukraine war and Middle East conflict — the airport operator said no immediate shock to air travel demand has been observed, but warned that rising oil prices and potential flight reductions could weigh on growth in the coming quarters.
For 2026, the operator forecast a modest increase in passenger volume to 75.07 million, up about 2 percent from a year earlier, signaling a gradual recovery trajectory.
While some airlines are scaling back Southeast Asian routes due to higher fuel costs, demand for Japan and China routes is expected to remain resilient, limiting the overall impact, according to IIAC.
It added that it has maintained stable surplus momentum following the pandemic, although rising outsourcing costs and depreciation expenses have tempered profit growth to some extent.
A passenger jet from Asiana Airlines takes off at Incheon International Airport, Thursday. Yonhap
Source: Korea Times News
