3 New Budget Airlines Ready for Takeoff
06 March, 2019
Three new budget airlines received their flight licenses from the government on Tuesday, the Ministry of Land, Infrastructure and Transport said.
The new low-cost carriers are Fly Gangwon, which will be based in Yangayng, Gangwon Province, Aero-K in Cheongju, North Chungcheong Province, and Air Premia in Incheon.
Air Philip based in Muan, South Jeolla Province and cargo carrier Guardians Airline failed in their bid for licenses.
The three new carriers now have to apply for an air operator's certificate within a year and start commercial flights within two years. They will have to stick to their home airports for at least three years.
Jin Hyun-hwan at the ministry said the new addition takes the number of no-frills airlines to nine, and they "will stimulate competition and innovation in the aviation market, improve convenience for provincial residents and create around 2,000 jobs by 2022."
Industry insiders say greater choice will reduce fares and improve flight quality but voiced concerns that there may now be too many players in a relatively small market.
TAG(s):