By Cirium2021-04-01T08:39:00+01:00
South Korean carrier Air Premia has received its first aircraft, a new Boeing 787-9 from Air Lease (ALC).
The Rolls-Royce Trent 1000-powered aircraft is on long-term lease to the start-up airline, the lessor says in a 31 March statement.
Source: Boeing
A rendering of Air Premia’s Boeing 787
This is the first of three 787-9s ALC will deliver to the startup carrier this year, from the lessor’s orderbook with Boeing.
Cirium fleets data shows that MSNs 66407, 66409, and 66816 are scheduled to deliver in April, May, and December, respectively.
ALC’s executive chairman Steven Udvar-Házy states: “As the first aircraft in the Air Premia fleet, this ALC Dreamliner will launch the new airline’s international network and contribute to an excellent debut in the Korea marketplace.”
By Cirium2021-03-04T08:11:00+00:00
The South Korean government has outlined broad measures to support and eventually revitalise the local aviation industry. For airlines, these are focused on capturing synergies.
The retrieval of unused airport slots and allocated routes will be temporarily suspended, the Ministry of Land, Infrastructure and Transport (MOLIT) says in a 3 March statement.
Source: Jeju Air
A Jeju Air 737-800 taking off
“In addition, airport slots that are not in use by foreign airlines will be temporarily allocated to domestic flights of [local] airlines to expand business opportunities,” it adds.
South Korea’s aviation laws require airlines to service allocated routes for at least 20 weeks per year, and utilise 80% of airport slots each season.
Budget airline industry faces major changes with new players, merger
Posted : 2021-01-27 09:13
By Jun Ji-hye
Korea s low-cost carrier (LCC) industry is bracing for major changes this year as two newcomers are ready to join the market, while a giant budget airline is set to emerge through a merger between three low-cost carriers.
The two new entrants are Air Premia and Aero K.
According to industry sources, Air Premia is expected to receive its air operator s certificate (AOC) from the Ministry of Land, Infrastructure and Transport and acquire Boeing 787-9 planes next month.
The transport ministry grants an AOC after verifying a carrier s capability to provide safe services. Air Premia received its license to operate air transport services back in March 2019.
Aero K, one of the two, is set to begin operations next month.
One Aero K official told The Korea Herald: “Our first Cheongju-Jeju flight is scheduled on February 19 after receiving permission for the route from the transport ministry yesterday [on January 18].”
Two round-trip Airbus A320 flights between Cheongju Airport and Jeju Airport will take off every day, said the official at the Cheongju, North Chungcheong province-based airline.
The other new entrant is Air Premia, which according to industry sources is expected to receive an air operators’ certificate and acquire a Boeing 787-9 aircraft sometime next month. The airline declined to give a more detailed timeline for its service commencement.
How Does South Korea Sustain So Many LCCs?
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South Korea may not be the country that comes to mind when thinking about a bustling low-cost airline market. However, the country is home to eight low-cost carriers and continues to steadily add more. So how does South Korea sustain so many budget airlines? Where are they flying? Let’s find out.
The growing low-cost market has made South Korean routes some of the busiest in the world. Photo: byeangel via Wikimedia Commons
Competition
While Korean Air and Asiana may be the most recognizable airlines in South Korea, low-cost carriers (LCCs) are growing. The entry of LCCs has seen the Korean aviation market double in size over the last decade, according to CAPA. As prices of tickets fall, more passengers take to the skies every year, with South Korea seeing a 20% rise in passenger traffic in 2018 alone.