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SEOUL (BLOOMBERG) - Last month, Hyun Jung-a boarded a flight from South Korea s Incheon Airport. Around two hours later, she was back in the same airport and loading up on duty-free shopping, despite never landing in another country. The Air Busan flight, organised by Lotte Duty Free for its VIP customers, was Ms Hyun s first since the pandemic began and it didn t cost her a cent. Because the route briefly departed Korean airspace and went over a Japanese island, the 130 passengers on board qualified to shop at duty-free stores in Seoul typically reserved for people who have travelled internationally. Destination-less flights like these are an attempt by duty-free operators to salvage an industry decimated by Covid-19. Before the virus, business was booming - the global duty-free market was worth US$85 billion (S$112.7 billion) in 2019 and on track to reach US$139 billion by 2027, according to Verified Market Research. ....
Last month, Hyun Jung-a boarded a flight from South Korea’s Incheon Airport. Around two hours later, she was back in the same airport and loading up on duty-free shopping, despite never landing in another country. The Air Busan Co. flight, organized by Lotte Duty Free for its VIP customers, was Hyun’s first since the pandemic began and it didn’t cost her a cent. Because the route briefly departed Korean airspace and went over a Japanese island, the 130 passengers on board qualified to shop at duty-free stores in Seoul typically reserved for people who have traveled internationally. Destination-less flights like these are an attempt by duty-free operators to salvage an industry decimated by Covid-19. Before the virus, business was booming the global duty-free market was worth $85 billion in 2019 and on track to reach $139 billion by 2027, according to Verified Market Research. ....