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LCCs remain relatively small players in South Korean market


The low cost carrier segment remains a small part of the South Korean market, currently with an 8% capacity (seat) share of the combined domestic and international market. However, this segment is growing, from 1.9% capacity share in 2007 to the current 8.5% in 2009. [2399 words]

Unlock the following content in this report:


  • South Korea hit hard by current economic crises
  • LCCs command 22% of shrinking domestic market
  • Very low presence of LCCs in international market
  • South Korean LCC revenues expected to exceed USD158 million in 2009
  • Jin Air reports operating profit in 1H2009 on revenue surge
  • Jin Air planning first international services next month
  • Jeju Air largest carrier by revenue in 1H2009 
  • Jeju Air only South Korean LCC with aircraft currently on order 
  • Air Busan expecting to be largest South Korean LCC by revenue in 1H2009 
  • Air Busan revenue growth linked to growing network
  • Eastar Jet targeting breakeven result in 2010
  • Stimulating demand through promotional measures
  • Remaining LCCs benefit from 2008 failures
  • Asiana Airlines and Korean Air both deeply in the red, but outlook improving slightly

Graphs and data:

  • South Korea domestic and international capacity (seats per month): Jan-Jul-2001 to Jan-Jul-2009
  • South Korea domestic capacity (seats per month), LCCs as a percentage of the total: Jan-Jul-2001 to Jan-Jul-2009
  • South Korea Airport domestic traffic (passengers): 1996 to 2007
  • South Korea Airport international traffic (passengers): 1996 to 2007
  • Jin Air network development: Jul-2008 to Sep-2009
  • South Korean carriers’ fleet and orders: Week commencing 07-Sep-2009
  • South Korea domestic carrier capacity share (%)
  • Asiana Airlines operating income trend: 1Q2007 to 2Q2009
  • Asiana Airlines international yield: 1Q2007 to 2Q2009
  • Asiana Airlines freight yield: 1Q2007 to 2Q2009
  • South Korea international carrier capacity share (%)
  • Korean Air revenue breakdown by segment: 2Q2009
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