South Korea: Budget airline industry faces major changes with new players, merger

Korea's low-cost carrier industry is bracing for major changes this year as two newcomers are ready to join the market, while a giant budget airline is set to emerge through a merger between three low-cost carriers. The two new entrants are Air Premia and Aero K. Air Premia is expected to receive its air operator's certificate from the Ministry of Land, Infrastructure and Transport and acquire Boeing 787-9 planes next month. Air Premia received its license to operate air transport services back in March 2019. The deliveries of Boeing aircraft and other procedures to launch services have been delayed due to the prolonged COVID-19 pandemic, but Air Premia may be able to begin its inaugural service within March as the carrier is in the final stages of receiving its AOC, according to sources. "We are planning to launch our inaugural service to a Southeast Asian country, and then expand our routes to Los Angeles and Silicon Valley, among others," an Air Premia official said. Aero K received its AOC last month and is set to begin operations next month, flying a 180-seat Airbus A320 on the Cheongju-Jeju route. The carrier also plans to operate more international routes after acquiring two more Airbus planes.<br/>