LCCs remain relatively small players in South Korean market

The low cost carrier segment remains a small part of the South Korean market, currently with an 8% capacity (seat) share of the combined domestic and international market. However, this segment is growing, from 1.9% capacity share in 2007 to the current 8.5% in 2009. [2399 words]

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This report contains the following subheadings:

• South Korea hit hard by current economic crises
• LCCs command 22% of shrinking domestic market
• Very low presence of LCCs in international market
• South Korean LCC revenues expected to exceed USD158 million in 2009
• Jin Air reports operating profit in 1H2009 on revenue surge
• Jin Air planning first international services next month
• Jeju Air largest carrier by revenue in 1H2009 
• Jeju Air only South Korean LCC with aircraft currently on order 
• Air Busan expecting to be largest South Korean LCC by revenue in 1H2009 
• Air Busan revenue growth linked to growing network
• Eastar Jet targeting breakeven result in 2010
• Stimulating demand through promotional measures
• Remaining LCCs benefit from 2008 failures
• Asiana Airlines and Korean Air both deeply in the red, but outlook improving slightly

This report contains the following charts and tables:

• South Korea domestic and international capacity (seats per month): Jan-Jul-2001 to Jan-Jul-2009
• South Korea domestic capacity (seats per month), LCCs as a percentage of the total: Jan-Jul-2001 to Jan-Jul-2009
• South Korea Airport domestic traffic (passengers): 1996 to 2007
• South Korea Airport international traffic (passengers): 1996 to 2007
• Jin Air network development: Jul-2008 to Sep-2009
• South Korean carriers’ fleet and orders: Week commencing 07-Sep-2009
• South Korea domestic carrier capacity share (%)
• Asiana Airlines operating income trend: 1Q2007 to 2Q2009
• Asiana Airlines international yield: 1Q2007 to 2Q2009
• Asiana Airlines freight yield: 1Q2007 to 2Q2009
• South Korea international carrier capacity share (%)
• Korean Air revenue breakdown by segment: 2Q2009