Jin Air determined to fly high
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Recently launched South Korean low-cost carrier, Jin Air, is on course to make its first international foray in September next year, the Bangkok Post has reported. Jin aims to serve destinations such as Thailand, China, Japan, the Philippines, Malaysia and Indonesia, concentrating on markets not already served by parent company, Korean Air.
The airline’s Chief Executive, Kim Jae Kun, is determined to press ahead with expansion plans, despite the currently difficult operating conditions. Jin Air will grow its fleet from one to five planes, with its second Boeing 737-800 due to enter service this month and a third in November. Two 292-seat Airbus A300-600 aircraft are scheduled to start operations in March and April next year.
Jin Air is facing intense competition from domestic Korean airlines and foreign LCCs. Hansung Airlines, Jeju Air and Yeongnam Air are all competing directly in the Korean market, with fellow start-ups, KoStar Airlines and Air Busan, set to enter the market toward the end of this year. Another two LCCs – EasterJet and Incheon-Tiger Airways are also reportedly planning to enter the market.
Industry analysts have suggested that the Korean domestic airline market could see an annual value of US$100 billion with Seoul signing open-skies pacts with Japan and China.
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