Korean start-up airlines have had varying success in tackling pandemic challenges

Three South Korean airlines that were approved at the same time in 2019 have experienced contrasting fortunes recently: while two are continuing to achieve major growth milestones, the third has suspended operations.

In Mar-2019 South Korean authorities awarded business licences to three applicant passenger airlines - Air Premia, Aero K and Fly Gangwon. Such licences were difficult to obtain at that time due to concerns about too much competition in the market.

Nobody could have predicted was what would follow soon after - one of the greatest crises the airline industry has ever seen. Needless to say, it has been a challenging period for start-ups.

All three did eventually start operations, and there have been notable developments with each in recent months. Air Premia and Aero K have added aircraft and made significant moves into new markets over the past few months, although Fly Gangwon has succumbed to financial pressure and has filed for bankruptcy to restructure its debt.