Logo of Phnom Penh Post newspaper Phnom Penh Post - South Korea’s aviation industry readies for rebound

South Korea’s aviation industry readies for rebound

Content image - Phnom Penh Post
An Asiana Airlines official welcomes passengers on a flight bound for Hawaii, one of the first long-haul routes to resume, at the Incheon Airport west of Seoul, on Sunday. ASIANA AIRLINES

South Korea’s aviation industry readies for rebound

South Korea’s aviation industry is gearing up for a full recovery of operations that were hit hard from the prolonged pandemic for more than two years as the flights resume along long-stalled mid- and long-haul routes.

The transport ministry aims to increase the number of international flights this year to the 50 per cent level of 2019. As of March, the number of international flights departing the country was at 406 per week, around 8.8 per cent of the corresponding figure in 2019 when the number of international flights stood at 4,770.

From March 21, South Korean nationals who are vaccinated are exempted from self-quarantine when they return to the country from overseas travel. From April 1, foreign visitors are also exempted from quarantine regardless of their vaccination history.

Considering the portion of those arriving from abroad among people confirmed with Covid-19 is at 0.01 to 0.04 per cent, some industry insiders say the government’s quarantine exemption rule will boost the overall travel volume.

Pinning high hopes on a real return to normalcy this time, air carriers said resumption of long-distance flight services as well as downward trend of international oil price will boost travel demand in South Korea.

On April 1, the West Texas Intermediate (WTI) benchmark for US crude closed at $99.27 per barrel, going below $100 for the first time in more than two weeks.

Amid growing expectations, Asiana Airlines on April 4 said that it had resumed one of its lucrative Incheon-Hawaii routes after a 25-month hiatus, the first long-distance flight to reopen since the government’s eased self-quarantine rules upon arrival from March 21. Asiana said it would operate the route three times a week.

According to Asiana Airlines, its first flight of its Incheon-Hawaii route on the evening of April 3 recorded a boarding rate of 80 per cent, mostly comprising newlyweds and families on holiday. Bookings have also more than doubled following the government’s new quarantine rule, it added.

Another flagship carrier, Korean Air, said it has expanded routes to Japan and Singapore this week.

On expectations of a full recovery, Korean Air shares gained 2.4 per cent at 31,950 won ($26.40), while other low cost carriers Jeju Air, T’way Air and Jin Air increased 6.46 per cent, 5.56 per cent and 5.53 per cent compared to the previous day. Asiana Airlines and its budget carrier brand Air Busan rose 1.32 per cent and 1.69 per cent, respectively.

Insiders have been urging the government to speed up resumption of passenger flight operations, citing the case in the US of flight reservation volume recovering the pre-pandemic levels.

“The bottom line is that the transport ministry wants to keep up Korea’s aviation service competitiveness. If Korean’s flagship carriers do not operate international flights, other major US and European air carriers can steal the Korean operators’ slots at international airports,” an aviation industry official said.

But some argue that it is too early to reopen long-haul flights or increase outbound flights at a time when some cities still require self-quarantine upon arrival, and fear of the spread of Covid-19 variants can still lead to suspensions of operations, for instance in Hong Kong.

On April 4, Korean Air said it would suspend the Incheon-Hong Kong route for a week after three passengers were confirmed with Covid-19, in compliance with Hong Kong authorities.

“The number of inbound passengers will not dramatically increase even when air carriers resume their long-distance flights, as confirmed Covid-19 cases continue to increase here and there,” an industry insider said.

“We’re closely watching the situation with more care this time, because the previous delta variant and omicron variant has knocked back ticket sales and revenue.”

THE KOREA HERALD/ASIA NEWS NETWORK

MOST VIEWED

  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one

  • Water supply authority assures public shortages over early ‘24

    The Phnom Penh Water Supply Authority (PPWSA) asked for understanding from Phnom Penh residents in some communes where water pressure is weak. They assured residents that all supply issues will be resolved by early 2024, but have suggested that residents use water sparingly in the meantime.

  • Khmer ballet documentary debuts April 1

    A new documentary, The Perfect Motion, or Tep Hattha in Khmer, will premiere to the public on April 1. The documentary film follows two intertwined storylines: the creation of a show called Metamorphosis by the late Princess Norodom Buppha Devi (her very last production) and the

  • EU’s Sokha resolution ‘a sovereign rights breach’

    The National Assembly (NA) said the European Parliament (EP) did not respect the Kingdom’s independence and sovereignty when it passed a resolution strongly critical of the recent conviction and sentencing of former opposition leader Kem Sokha for “treason”. On March 16, the EP issued a