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| Eastar Jet CEO Cho Jung-seok announces the low-cost carrier's plan to resume flight services during a press conference at Courtyard by Marriott Botanic Park in southwestern Seoul, Tuesday. Yonhap |
By Lee Hae-rin
After a three-year hiatus due to financial problems, Eastar Jet, a local low-cost carrier (LCC), seeks to take off once again by introducing new planes and international routes as it resumes service.
Announcing the resumption of flights between Gimpo and Jeju Island, its CEO Cho Jung-seok said the company will expand its fleet by up to 10 planes by the end of this year.
"Among them, three existing planes, which have been overhauled regularly during the pandemic, and the first three new aircraft will be used to fly between Gimpo and Jeju," he said during a press conference.
As international travel restrictions have lifted, most planes have been used to fly international flights, resulting in a shortage for domestic routes and a hike in ticket prices ― particularly flights to Jeju for which the average ticket price via LCC surpasses 60,000 won ($45), compared with a pre-pandemic level of 30,000 won to 40,000 won.
The CEO believes that Eastar's plan to supply 4,500 seats on a daily basis will eventually bring the prices of Jeju flights back down in accordance with supply and demand. The airline will also launch promotions offering tickets to Jeju for 9,900 won and 19,900 won from Wednesday.
In the second half of the year, the LCC will launch international routes, starting with Songshan, Taiwan with another new plane. After that, it plans to provide routes connecting Incheon with popular Japanese and Southeast Asian destinations including Osaka, Narita, Fukuoka, Thailand and Vietnam.
To execute these plans, Eastar Jet will recruit 500 people, prioritizing former employees who were laid off during the pandemic.
Founded in October 2007 by former lawmaker Rep. Lee Sang-ik of the Democratic Party of Korea, Eastar Jet has suffered financial difficulties from the pandemic as well as from the founder's embezzlement issue. Around 500 of its employees were made redundant when Jeju Air, the country's largest LCC, attempted a takeover of Eastar. It halted all flight operations on March 24, 2020.
The troubled budget carrier reclaimed financial stability after being taken over by private equity fund VIG Partners earlier this year and decided to resume flight services.
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