Air Premia Secures 65 Billion KRW Investment... Scheduled to Launch Flights in Second Half of the Year

[Asia Economy Reporter Dongwoo Lee] The newly established low-cost carrier (LCC) Air Premia announced on the 11th that it has secured investment worth up to 65 billion KRW. The airline plans to bring in aircraft as early as the beginning of next month and commence operations in the second half of this year.

Air Premia attracted investments totaling up to 65 billion KRW from private equity firm JC Partners and Chairman Park Bong-cheol of logistics company Kochaina. Currently, the first tranche of 15 billion KRW has been secured.

An additional 10 billion KRW investment is expected by the end of this month, with the remaining funds to be injected sequentially into Air Premia during the first half of the year. Upon completion of the investment, Air Premia's capital will reach 110 billion KRW.

Air Premia plans to prioritize the use of the investment funds for the introduction of its first aircraft and obtaining the Air Operator Certificate (AOC). The operating aircraft will be the Boeing 787-9, with the first plane scheduled for delivery as early as next month. The second and third aircraft are nearly completed and are planned to be delivered to Air Premia within this year.

Once the first aircraft arrives, Air Premia will complete the AOC process, including emergency evacuation training test flights, and will launch operations considering the aviation market situation affected by the COVID-19 pandemic. Potential initial destinations under review include Vietnam, Thailand, and other Southeast Asian countries, with plans to expand to long-haul routes such as the Americas and Europe thereafter.

Air Premia aims to be a Hybrid Service Carrier (HSC) that offers high-quality service at reasonable costs. The aircraft will have a total of 309 seats, divided into two classes: Premium Economy (56 seats) and Economy (253 seats). Notably, the seat pitch in Economy class is 35 inches, making it the widest among economy seats worldwide.

This content was produced with the assistance of AI translation services.