Air Seoul (RS, Seoul Incheon) had accumulated debts of KRW179 billion won (USD121 million) as of December 31, 2024, and auditors have raised doubts about its status as a going concern, according to a March 31, 2025, regulatory filing.

Despite recording record sales of KRW326.9 billion (KRW222 million) in calendar 2024, the auditors describe the business environment as “worsening” and sensitive to external factors such as exchange rates and oil prices.

“This situation indicates the existence of a…

Source: ch aviation
Read more: Auditors raise going-concern doubts about Air Seoul