NST Niigata Sogo Television reported that Toki Air held its first general shareholders meeting on June 26, 2024. While the meeting was not public due to the company being private, sources familiar with the matter told the television Toki Air reported an ordinary loss of approximately 316 million yen (1.97 million USD) for last fiscal year.
According to the report, the airline’s delayed launch is among the reasons behind the loss. It is likely that the airline’s approximately 50% average load factor between its January 31, 2024, launch and transporting its 10,000th passenger in May 2024 and the fact that the airline is not operating every day of the week contributed to the loss.
Currently, Toki Air operates both of its routes (Niigata – Sapporo and Niigata – Sendai) twice a day on five days of the week for a total of 10 weekly roundtrips. It is planning to increase the frequency of both routes to double daily from mid-July 2024. In the future, it plans to launch scheduled flights from Niigata to Nagoya and Kobe among others.
Additionally, the report says Toki Air is also planning to operate charter flights to expand its business and turn profitable.
