Seoul grants AOC to start-up carrier Aero K

South Korean start-up carrier Aero K received its air operator’s certificate for international and domestic air transport operations on 28 December. The airline was evaluated between October 2019 and December 2020, and the AOC was granted within the two-year validity period from when it received a business licence in March 2019, the Ministry of Land, Infrastructure and Transport (MOLIT) said Monday. Aero K can commence operations after the necessary procedures, which includes obtaining a route permit. The company’s finances were evaluated for its AOC application, given the ongoing global pandemic. According to MOLIT, Aero K held W48b ($44m) capital in March 2019, when it applied for a business licence, which along with plans for a capital expansion were deemed sufficient for its operations. The ministry states: “As a result of reviewing [Aero K’s] plan for [ensuring] financial soundness including the paid-in capital increase plan submitted by Aero K [to the relevant authorities], it was evaluated that additional capital expansion (more than W10b) in progress and sales after the commencement of operation could cover operating expenses such as labour, lease and maintenance for a certain period of time.”<br/>