SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s low-cost carriers are exploring new opportunities in the air cargo sector as a new income source, after long years of relying primarily on revenues from passenger transportation. Jeju Air Co., the country’s leading budget carrier, introduced a cargo plane in June and launched cargo services starting with [...]
SEOUL, June 2 (Korea Bizwire) — With Japan opening its borders to foreign tourists and China beginning to lift city blockades, low-cost carriers are facing hopes for recovery. Jeju Air Co. shares jumped from 18,950 won on May 26 to 21,700 won on May 31, up by 14.5 percent in just four days. Jin Air [...]
SEOUL, May 27 (Korea Bizwire) — South Korea’s top no-frills airline Jeju Air Co. and other key industry players are on course to bounce back from a yearslong slump on the back of rising international travel demand, a local brokerage house said Friday. Jeju Air, Jin Air Co., T’way Air Co. and other low-cost carriers [...]
SEOUL, May 1 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Sunday it will offer more flights to Guam starting this month to meet the growing travel demand amid relaxed COVID-19 entry restrictions. Jeju Air will run four flights a week for the Incheon-Guam route, from the current two, the company [...]
SEOUL, April 14 (Korea Bizwire) — Jeju Air Co. and T’way will become South Korea’s first budget carriers to operate direct flights to the Mongolian city of Ulaanbaatar, the transportation ministry said Thursday. The Ministry of Land, Infrastructure and Transport decided to give Jeju Air, the nation’s leading low-cost carrier, a license to operate the [...]
SEOUL, Nov. 18 (Korea Bizwire) — With the ‘living with COVID-19’ scheme set in motion, the nation’s budget airline industry is set to make up for lost income caused by the pandemic. South Korea’s low-cost carriers (LCCs) including Jin Air Co., Jeju Air Co. and T’Way Air Co. are staging a range of sales events to [...]
SEOUL, July 19 (Korea Bizwire) — South Korea’s low-cost carriers are planning to raise funds through a capital increase to ride out the prolonged coronavirus pandemic and put them in a better financial position, industry sources said Monday. Budget carriers have suffered the most since early last year due to the COVID-19 pandemic and have [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s low-cost carriers suffered an extended loss in the first quarter as the coronavirus continued to weigh on travel demand, data showed Tuesday, raising concerns over their ability to stay afloat even after the pandemic. Budget carriers have grounded most of their flights on international routes since early [...]
SEOUL, March 24 (Korea Bizwire) — South Korean low-cost carriers (LCCs) are struggling with high indebtedness stemming from huge deficits due to the coronavirus pandemic, data showed Wednesday. The debt-to-equity ratio of three major LCCs — Jeju Air Co., Jin Air Co. and T’way Air Co. — ranged from 430 percent to 517 percent as [...]
SEOUL, Feb. 24 (Korea Bizwire) — The polarization of profits between full-service carriers (FSCs) and low-cost carriers (LCCs) is worsening as air travel demand has plunged in the aftermath of the coronavirus pandemic. While LCCs are following in the footsteps of two FSCs — Korean Air Lines Co. and Asiana Airlines Inc. – to fly more flights [...]