South Korean low-cost carriers have cut around 900 round-trip international flights and rolled out unpaid leave programs amid soaring fuel prices triggered by Middle East instability.
South Korean budget airlines have slashed roughly 900 round-trip international flights and introduced unpaid leave as jet fuel prices surged following the U.S.-Iran conflict.
Jeju Air canceled 187 flights on routes to Bangkok, Singapore, Da Nang and Phu Quoc for May and June. Jin Air suspended 176 flights to Guam and Phu Quoc through the end of May. T'way Air and Aero K are accepting unpaid leave applications for cabin crew and all staff, while Jeju Air will begin the program next month.
Carriers are shifting toward short-haul China routes, with Parata Air and Eastar Jet securing new links to Shenzhen, Chengdu and Xiamen. Industry officials warn that most LCCs will post deficits in the second quarter, with combined losses forecast at 244.7 billion won.