Air Premia Opens Incheon-Frankfurt Route | Be Korea-savvy

Air Premia Opens Incheon-Frankfurt Route

This file photo provided by Air Premia shows its B787-9 passenger jet.

This file photo provided by Air Premia shows its B787-9 passenger jet.

SEOUL, June 26 (Korea Bizwire)Air Premia Inc., a South Korean low-cost carrier (LCC), said Monday it opened its Incheon-Frankfurt route last week as part of its expansion strategy on long-haul routes.

In July last year, Air Premia started its services by offering flights on the Incheon-Singapore route with one B787-9 passenger jet. But the carrier suspended the Singapore route in March.

The budget carrier has operated five chartered B787-9s to serve two long-haul routes from Incheon to Los Angeles and New York, and three mid-haul routes from Incheon to Bangkok, Ho Chi Minh City and Tokyo.

To serve those routes, it plans to increase the number of chartered B787-9s to 15 by 2027 and more than 20 by 2030.

Air Premia aims to achieve 1.15 trillion won (US$899 million) in sales in 2027 based on an expanded fleet and long-haul routes. It is expected to report 354 billion won in sales in 2023, sharply up from 53 billion won a year earlier.

The company is considering opening more long-haul routes to Paris, Rome, Barcelona, Seattle and Hawaii in the coming years, the company’s Chief Executive Yoo Myung-sub told reporters last month.

It has said beefing up its fleet with the B787-9 only will help it maintain high efficiency in terms of fuel costs and safety.

The company provides economy class only on its planes at “reasonable” prices to win price-sensitive customers away from full-service carriers (FSCs), such as Korean Air Co. and Asiana Airlines Inc.

Long-range routes have long been dominated by the two FSCs. Local budget carriers have mainly served short and mid-haul routes to China, Japan and Southeast Asia in the past few decades.

South Korea has two FSCs and 10 LCCs, including Jeju Air Co., Jin Air Co., Air Busan Co., Air Seoul Inc., Eastar Jet Co., T’way Air, Fly Gangwon Co., Aero K Airlines Co. and Air Incheon Co.

Air Incheon is a cargo-focused carrier, and the nine others are passenger ones.


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