SEOUL, May 10 (Korea Bizwire) — South Korea’s low-cost carriers are competing to offer the cheapest tickets possible due to the decreasing number of overseas travelers during the off-season. Air Seoul Inc. introduced a “zero-won ticket promotion” last month for all overseas flights. The promotion offers free flights, with purchasers only having to pay the [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean low-cost carriers are enjoying a sharp increase in sales of in-flight meals on the back of increasing demand for overseas travel. Jeju Air Co., for instance, sold a total of 4,600 in-flight meals through advance orders last month, up 156 percent from June and 411 percent from [...]
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, Jan. 3 (Korea Bizwire) — South Korea’s low-cost carriers said Monday they have delayed or reduced their flights on international routes due to the spread of the omicron variant. Air Seoul Inc., a budget carrier unit of Asiana Airlines Inc., has delayed its planned flights to Guam from Jan. 29 to March 27. Air [...]
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, June 22 (Korea Bizwire) — With airlines continuing to struggle with the aftermath of the coronavirus outbreak, low-cost carriers are beginning to take on ‘secondary jobs’. Jeju Air Co., South Korea’s biggest budget carrier by sales, is running an ‘in-flight meal cafe’ at a shopping mall complex in Seoul’s Hongdae area until July 28. [...]
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 [...]