China routes emerge as key revenue source for struggling Korean LCCs
China is emerging as a critical earnings lifeline for Korea’s struggling low-cost carriers (LCCs), offering them access to fast-growing passenger demand and lucrative business traffic as growth in other short-haul markets loses steam. Some 2.13 million passengers traveled between Korea and China in August, surpassing the previous monthly record of about 2.07 million set in August 2016, before the…
In a turnaround for struggling Korean low-cost carriers, China has become a crucial revenue source. August saw 2.13 million passengers traveling between Korea and China, surpassing the previous record of 2.07 million set in August 2016. This growth of 27.5 percent year-over-year and 9.7 percent month-over-month indicates a promising trend for Korean airlines.
Moreover, Korean airlines are gaining access to China's most lucrative routes. The government recently allocated additional slots on key routes, including Seoul-Beijing, Seoul-Shanghai, Seoul-Guangzhou, and Seoul-Dalian. Jeju Air and Eastar Jet secured seven weekly flights on the Incheon-Beijing route, while Parata Air and Air Premia received a similar allocation. As growth in other short-haul markets stagnates, China presents an attractive opportunity for Korean airlines to boost their revenues and passenger numbers.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- China routes emerge as key revenue source for struggling Korean LCCs koreatimes.co.kr
