Budget airlines beat full-service carriers in terms of int'l passengers in H1

Industry

Published: 22 Jul. 2024, 18:59

Budget airlines beat full-service carriers in terms of int'l passengers in H1

A Jeju Air aircraft [JEJU AIR]

The number of international passengers on domestic low-cost carriers (LCCs) surpassed that of full-service carriers, such as Korean Airlines and Asiana Airlines as well as foreign airlines during the first half of the year, industry data showed Monday.

According to data from the Ministry of Land, Infrastructure and Transport, international passengers of nine domestic LCCs during the January-June period totaled 15.26 million, or 35.6 percent of the 42.78 million total number of international passengers during the six-month period.

The tally is higher than the 14.16 million for Korean Air and Asiana Airlines combined. The tally for foreign airlines combined totaled 13.36 million.

The market share of domestic LCCs has grown steadily, from 26.4 percent in 2017 to 29.5 percent in 2019.

International passengers on LCCs surpassed that of full-service carriers for the first time last year, occupying a 49.3 percent share for 2023 as a whole, by capitalizing on the resumption of travel following the COVID-19 pandemic.

The increase of international travelers on LCCs is attributed to the segment's increased focus on short-haul routes to destinations such as Japan, China and Vietnam, while major airlines concentrated on more profitable long-haul routes.

Among LCCs, Jeju Air had the highest share of international passengers in the first half of this year, with 4.33 million passengers. T'way Air, Jin Air and Air Busan had 3.2 million, 3.13 million and 2.18 million, respectively.

Yonhap