Incheon airport takes hit from plunging travel demand - The Korea Times

Incheon airport takes hit from plunging travel demand

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A man watches news about COVID-19 at an empty arrival hall of Incheon International Airport's Terminal 1, Wednesday. / Yonhap

By Jun Ji-hye

Incheon International Airport is struggling with the plunging number of international travelers amid the continued COVID-19 outbreak, with concerns that the number of daily passengers using the airport could drop to below 10,000 for the first time since its opening in 2001, government and airport officials said Wednesday.

In 2019, the number of daily passengers using the nation's main gateway was 190,000 on average, but the figure fell 91.6 percent to 16,000, the lowest level ever, Monday, according to the Ministry of Land, Infrastructure and Transport.

The figure is lower than the previous record low of 26,773, tallied on May 20 of 2003, when international travel was hit by the outbreak of Severe Acute Respiratory Syndrome (SARS).

“At the early stage of the new coronavirus outbreak, the airport saw a decrease mostly in the number of Chinese and Taiwanese travelers, but the situation has become worse due to the suspension of more international routes,” a ministry official said.

In 2001, when Incheon International Airport was open, the number of daily passengers stood at 52,000 on average.

Incheon International Airport Corp. (IIAC), which operates the airport, had originally estimated the number of international passengers this year at 72.54 million, but has recently slashed the figure by 57.5 percent to 30.82 million amid the fast spread of the contagious disease.

There is a possibility that the number of passengers who actually get on airplanes will be less than expected as people have continued to cancel flight reservations at a time when about 140 countries and territories including Japan are restricting arrivals from Korea, citing the need to protect their own people.

The Korean government also implemented stricter screening procedures for all travelers coming from Europe, Monday, and will expand this to all people arriving in Korea, starting Thursday, in a bid to prevent an influx of COVID-19 from other nations.

“The number of passengers using the airport is expected to continue to decrease for the time being,” an IIAC official said. “This is the worst situation since the opening of the airport in 2001.”

According to the data that the nation's five state airport, railway and highway operators submitted to Rep. An Ho-young of the ruling Democratic Party, IIAC's annual sales is forecast to decrease by 566.4 billion won ($458 million) this year due to the coronavirus outbreak.

The Korea Airports Corp., which operates 14 airports nationwide other than Incheon, is expected to shift to a net loss this month if the COVID-19 situations continues.

“The coronavirus outbreak has caused a rapid fall in the number of users of mass transportation, which has led to troubles in management of relevant state firms,” An said. “The government should come up with proper measures to overcome the crisis.”

Jun Ji-hye

Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.

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