When Jeju Air’s status as South Korea’s biggest low-cost carrier seemed under threat from the merger of the country’s two biggest airlines last year, the company’s CEO assured employees that it would “actively respond,

Jeju Air and the South Korean airline industry continue to feel the impacts of accidents beyond a reduced flight schedule. The airline currently has 260 billion won ($177 million) in deferred revenue from passengers who have booked their tickets but have not yet flown.