In Korea’s independent LCC market, Jeju Air soars while Eastar Jet is still coming of age

The nearly 20 year duopoly on South Korean air services held by Asiana and Korean Air was broken in 2006 with the launch of Jeju Air. That gave Korea its first low-cost alternative, establishing the country as a vibrant ground for potential new carriers, but only two made it to market and amassed scale: Jeju Air and Eastar Jet. More recently, t'way - rebranded from Hansung Airlines - has launched, but with a rocky experience and uncertain future as the airline remains for sale.

The experience for Eastar Jet and Jeju has not been equal. Jeju Air had to forge a path as a new carrier, and so encountered typical resistances, but has been rewarded with the status as Korea's third largest carrier, larger than the LCC spin-offs from Asiana and Korean Air. Eastar Jet, the last of the new carriers to launch, has found it difficult to secure a position. Jeju Air is closer to being a hybrid carrier and both must re-define themselves and their cost base as regional competition increases. No position is guaranteed or forced.