Korean LCC fleet approaches 150 aircraft: new aircraft gaining popularity over secondhand leases

Korea is Northeast Asia's first major LCC market and has been vibrant. Korea's LCC sector ended 2017 with 121 aircraft, and this number could reach 150 in 2018.

Yet positive dynamics has not translated into big business for Airbus and Boeing; Korea's LCCs have favoured leased secondhand aircraft. In their early years, Korea's LCCs could not place direct orders, and full service airlines could offload older aircraft to their LCC children. It is not uncommon for Korean LCCs to operate aircraft older than the airline has been in business - even a gap of a decade is not unheard of.

But change is afoot. Jeju Air has taken some new aircraft while the airline T'way plans to introduce the first MAX family member (a MAX 8) to be operated by a Korean LCC in 2019, and Air Busan will do so for the neo programme (A321neo) in 2020. The increased range of the neo and MAX could lure Korea's LCCs, but the sector's biggest opportunity remains in short haul flying.