Korean LCC domestic market share reaches 25%
Korea Airports Corporation (KAC) reports domestic passenger numbers travelling on LCCs, including Air Busan, Jin Air, and Jeju Air, reached 3.1 million in Aug-2009, representing a 25.4% market share, up from 1.7 million passengers (9.7% share) in Aug-2008 (JoongAng Daily, 17-Sep-2009). According to KAC, Jin Air currently has the largest market share of the LCCs, at 13.1%, on the Gimpo-Jeju sector and the third largest market share in total, behind Korean Air (37.2%) and Asiana (26.4%).
Air Busan: “There has been rigorous competition in the budget carrier industry here for several years. Some have survived and some haven’t. We predict one or two carriers will remain successful in the future,” Spokesperson. Source: JoongAng Daily, 17-Sep-2009.