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How Does South Korea Sustain So Many LCCs?


#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.

#This growth has fueled more budget airlines to join the race, continuing the cycle. #While the country only has a dozen or so major airports, competition on every domestic route is intense. #International traffic has further boosted budget airlines, with traffic tripling in the last decade alone.

Jin Air 777-200ER
The rapid rise in traffic has allowed more low-cost airlines to enter the market. #Photo: #Alan #Wilson via #Wikimedia #Commons
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#Currently, #South #Korea is home to nine low-cost airlines: #Jeju #Air, T’way #Air, #Jin #Air, #Air #Busan, #Air #Seoul, #Eastar #Jet, #Fly #Gangwon, #Aero K (upcoming), and #Air #Premia (proposed). #While some are subsidiaries of the #Korean and #Asiana (#Jin #Air, #Air #Busan and #Air #Seoul respectively), the rest operate independently. #So where do these carriers fly?

#Seoul to #Jeju

The question of why #South #Korea can sustain so many LCCs can be answered by looking at one route alone: #Seoul to #Jeju. The flight from the capital to the nearby island is the busiest route on earth and continues to be even in 2020. #Eight airlines usually operate the route every day with over 65 daily departures at 10-minute intervals throughout the daytime.

The town attracts travelers from all over #Asia and has established itself as a bustling tourist destination. #Low-cost airlines have cashed into this and many other routes to thrive in the aviation market. #Jeju #Airport saw over 30 million passengers in 2019, with low-cost carriers accounting for nearly 60% of that traffic, according to #Reuters.

Jeju Air Korean Air
#Low-cost airlines have managed to challenge full-service airlines on key routes. #Photo: #Getty #Images

#South #Korea also stands in contrast to other #East #Asian markets like #Japan and #China, where budget carriers haven’t found the same traction (53% vs. 9-13%). #As traffic is expected to continue growing in #South #Korea in the coming years, more low-cost airlines plan to jump into the race.

#More coming

#If seven major budget airlines weren’t enough for #South #Korea, two more are planning to join the ranks soon. #Aero K, which got permission in #March 2019, recently received its first aircraft and plans to launch operations in #January. #Its first route will likely be #Cheongju-Jeju, before international expansion, according to #Business #Traveller.

#Low-cost, long-haul carrier #Air #Premia is also planning to start operations soon. #While its first aircraft and flight was scheduled for this summer, those plans have been delayed. The carrier will operate a fleet of 787s and possibly fly to #Hawaii, #Munich, and other long-haul routes.

#South #Korea is a dynamic aviation market that has been able to sustain many LCCs due to its tremendous growth. #Once 2020 is in the rearview, the market looks to remain strong for many years to come.

#What are your thoughts about #South #Korea’s low-cost carriers? #Let us know what you think in the comment section.



[ source link ]
https://simpleflying.com/south-korea-lccs/

##South ##Korea ##Sustain #LCCs

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