South Korea air pax exceed 80m for the first time ever 2014

South Korea's Ministry of Land, Infrastructure and Transport reported (25-Jan-2015) air passenger numbers reached a record high in 2014, with 81.4 million passengers, the first time ever passengers have exceeded 80 million. Domestic passengers increased 10.3% to 24.7 million and international passengers increased 11% to 56.8 million. Cargo traffic increased 5.6% to 3.7 million tons. The ministry attributed the growth to the expansion of local LCCs following the rising number of Chinese tourists and the increasing number of Koreans traveling overseas. Low fuel costs also helped airlines' cargo business. LCC international market share reached 11.5%, surpassing two-digits for the first time. Korean Air and Asiana Airlines had a combined 51.1% market share in the international market. In the domestic market, LCCs had a 50.7% market share, an increase of 2.5 ppts. [more - original PR - Spanish]