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Ishrion
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Re: Korean start up Air Premia selects 787-9

Sun Sep 20, 2020 4:53 pm

 
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c933103
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Re: Korean start up Air Premia selects 787-9

Fri Nov 13, 2020 4:05 pm

https://www.thescoop.co.kr/news/article ... dxno=41270
On the news it is noted that Koream government still haven't issued AOC to Air Premia (together with Aero K), exceeding the usual processing time.
The article noted that the ongoing pandemic have caused an oversupply situation among airlines in Korea and the government might be intentionally delaying the AOC issuance to not flood the market, but such delay is costing the two carriers billions of Won damage each month, and that the Korean rule also require new carrier to start service within two years after the initial acquisition of operation permit which will be by 2021 March for the two airlines, if they still have no AOC and thus cannot launch flight by then their permit would be cancelled.
 
Antarius
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Re: Korean start up Air Premia selects 787-9

Fri Nov 13, 2020 4:15 pm

Ishrion wrote:


Looks like a crappy version of Brussels Airlines

Image
 
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Antaras
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Re: Korean start up Air Premia selects 787-9

Fri Nov 13, 2020 5:33 pm

Air Premia is a good example to remind us that we should search for Google before creating a "fine" livery for your airline.
 
Capricorn
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Re: Korean start up Air Premia selects 787-9

Fri Nov 13, 2020 6:04 pm

While delaying an AOC simply out of fear of creating oversupply is definitely not acceptable, I still think the government has point in this case. Korea got to be one of the most oversupplied marked out there, especially domestically. And neither does it help that the carriers of its next door neighbour China oversupply the marked with cheep overcapacity. But I guess some investors out there seem to see some potential in that market.
 
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c933103
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Re: Korean start up Air Premia selects 787-9

Mon Nov 16, 2020 7:32 am

Capricorn wrote:
While delaying an AOC simply out of fear of creating oversupply is definitely not acceptable, I still think the government has point in this case. Korea got to be one of the most oversupplied marked out there, especially domestically. And neither does it help that the carriers of its next door neighbour China oversupply the marked with cheep overcapacity. But I guess some investors out there seem to see some potential in that market.

When the article mebtioned 90%+ load factor before this year, and while dropped but still maintaining at 70%+ now, I don't think it's really that oversupplied.
 
ITSTours
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Re: Korean start up Air Premia selects 787-9

Mon Nov 16, 2020 8:19 am

Capricorn wrote:
While delaying an AOC simply out of fear of creating oversupply is definitely not acceptable, I still think the government has point in this case. Korea got to be one of the most oversupplied marked out there, especially domestically. And neither does it help that the carriers of its next door neighbour China oversupply the marked with cheep overcapacity. But I guess some investors out there seem to see some potential in that market.


ICN-LAX passenger load factor can be easily over 90% during the peak season, and this is with 4x daily A380.

Oversupplied probably between Korea and Japan (before the trade war), but Air Premia's main target isn't Japan.
 
Sokes
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Re: Korean start up Air Premia selects 787-9

Mon Nov 16, 2020 9:09 am

c933103 wrote:
https://www.thescoop.co.kr/news/articleView.html?idxno=41270
On the news it is noted that Koream government still haven't issued AOC to Air Premia (together with Aero K), exceeding the usual processing time.
The article noted that the ongoing pandemic have caused an oversupply situation among airlines in Korea and the government might be intentionally delaying the AOC issuance to not flood the market, but such delay is costing the two carriers billions of Won damage each month, and that the Korean rule also require new carrier to start service within two years after the initial acquisition of operation permit which will be by 2021 March for the two airlines, if they still have no AOC and thus cannot launch flight by then their permit would be cancelled.

Where is Korea on the "ease of doing business" Index?
 
Capricorn
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Re: Korean start up Air Premia selects 787-9

Mon Nov 16, 2020 3:54 pm

c933103 wrote:
Capricorn wrote:
While delaying an AOC simply out of fear of creating oversupply is definitely not acceptable, I still think the government has point in this case. Korea got to be one of the most oversupplied marked out there, especially domestically. And neither does it help that the carriers of its next door neighbour China oversupply the marked with cheep overcapacity. But I guess some investors out there seem to see some potential in that market.

When the article mebtioned 90%+ load factor before this year, and while dropped but still maintaining at 70%+ now, I don't think it's really that oversupplied.


Oversupply cannot only be measured by looking at LFs, but the corresponding yields need to be looked at as well. And yields prior to C19 seem to have been pretty bad from what I have read, but since I did not follow the Korean market closely I might easily be mistaken and therefore refrain from making an absolute claim regrading oversupply. But given that both KE and OZ were not very profitable prior to C19, while the short haul focused Jeju was more profitable according to my quick google search, I would assume that the oversupply argument has some legs to stand on.
 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Wed Dec 09, 2020 4:03 pm

Premia selects Air France KLM to provide maintenance support for 787 fleet

https://newsroom.aviator.aero/afi-klm-e ... -customer/
 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Thu Jan 21, 2021 5:40 pm

Air Premia expects to receive its AOC and receive its first B787-9 in February.

https://centreforaviation.com/news/air- ... 21-1048345
 
btfarrwm
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Re: Korean start up Air Premia selects 787-9

Thu Jan 21, 2021 6:22 pm

They should try and pick up some of the castoffs from the Norwegian 787-9 fleet.
 
 
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c933103
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Re: Korean start up Air Premia selects 787-9

Tue Feb 23, 2021 9:08 am

https://www.thescoop.co.kr/news/article ... dxno=42625
https://mobile.newsis.com/view.html?ar_ ... 4#_enliple
Korean government extend the time limit for new LCCs including Air Premia getting AOC to end of the year, from the original deadline of March
The current Korean law require airlines to get AOC within two years of getting their business license else the business license would be revoked and the original set deadline for Air Premia was March this year.
But it doesn't change their financial troubles
 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Tue Mar 02, 2021 5:12 pm

A Korean private equity firm JC Partners and Hong Kong-based Cochina Consortium acquiring stake in the airline for 50-65 billion won (US$44-58mil)

https://news.mt.co.kr/mtview.php?no=2021030210502504508
 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Thu Apr 01, 2021 4:41 pm

Took delivery of its first plane HL8387.

Air Lease Corporation Announces Delivery of New Boeing 787-9 Aircraft to Air Premia
https://airleasecorp.com/press/air-leas ... air-premia

Image
https://pbs.twimg.com/media/ExWcTXYVcAQ ... name=large
 
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UPlog
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Re: Korean start up Air Premia selects 787-9

Thu Apr 01, 2021 7:59 pm

She is on her way to Incheon.

https://flightaware.com/live/flight/APZ102D
 
aviationjunky
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Re: Korean start up Air Premia selects 787-9

Thu Apr 01, 2021 8:27 pm

Correct me if I'm wrong, but they still haven't announced official routes or official service dates, correct? I went to their website and couldn't find anything.
 
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c933103
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Re: Korean start up Air Premia selects 787-9

Thu Apr 01, 2021 10:52 pm

aviationjunky wrote:
Correct me if I'm wrong, but they still haven't announced official routes or official service dates, correct? I went to their website and couldn't find anything.

My understanding is they have been waiting for the Korean government to issue the operation certificate, and plan to start operation immediately after they receive the aoc
 
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mercure1
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Re: Korean start up Air Premia selects 787-9

Tue May 25, 2021 5:31 am

Looking at launching LAX service "early 2022"

https://centreforaviation.com/news/air- ... 22-1070210
 
 
Motorhussy
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Re: Korean start up Air Premia selects 787-9

Mon Jul 05, 2021 9:06 am

Windows look small in that pic.
 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Tue Jul 20, 2021 5:27 am

 
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LAXintl
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Re: Korean start up Air Premia selects 787-9

Sun Aug 01, 2021 2:46 am

Applied with DOT to launch service to LAX.

They propose to launch the route Q2 2022 with their 309 seat 787s

OST-2021-0085
 
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c933103
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Re: Air Premia News and Discussion Thread

Sat Aug 07, 2021 4:52 am

Domestic service from Seoul Gimpo to Jeju launched, first flight will be on August 11
 
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LAXintl
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Re: Air Premia News and Discussion Thread

Mon Nov 01, 2021 2:54 pm

Air Premia will suspend its Gimpo-Jeju as it prepares for international services with Singapore targeted for December. Longer haul to US on agenda for 2022.

https://centreforaviation.com/members/d ... hsc-580199
 
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LAXintl
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Re: Air Premia News and Discussion Thread

Thu Jan 13, 2022 11:41 pm

DOT yesterday issued final approval of Air Premia's foreign air carrier permit and exemption to serve the U.S.

OST-2021-0085
 
wedgetail737
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 4:26 am

LAXintl wrote:
DOT yesterday issued final approval of Air Premia's foreign air carrier permit and exemption to serve the U.S.

OST-2021-0085


Good timing...on the heels of the Korean Air/Asiana merger (if it truly goes through) slated for this year. I wonder what their LAX-ICN frequency will be.
 
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c933103
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 4:38 am

http://en.airpremia.com/
The official website is (finally?) available in English, but its news and about section have no updates beyond year 2019...
 
planemanofnz
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 5:47 am

wedgetail737 wrote:
LAXintl wrote:
DOT yesterday issued final approval of Air Premia's foreign air carrier permit and exemption to serve the U.S.

OST-2021-0085


Good timing...on the heels of the Korean Air/Asiana merger (if it truly goes through) slated for this year.

But what if the merger doesn't go through? Isn't that somewhat of a risk?
 
RoyalBrunei757
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 7:58 am

planemanofnz wrote:
wedgetail737 wrote:
LAXintl wrote:
DOT yesterday issued final approval of Air Premia's foreign air carrier permit and exemption to serve the U.S.

OST-2021-0085


Good timing...on the heels of the Korean Air/Asiana merger (if it truly goes through) slated for this year.

But what if the merger doesn't go through? Isn't that somewhat of a risk?

All the current signs are positive with regard to the merger, several countries have approved the merger, while seven others are still pending. The Korea Fair Trade Commission (KFTC) has also indicated they may approve on condition that some slots are returned and traffic rights are redistributed so that these can be given to domestic low-cost carriers. This is where T'Way and Air Premia fall in. https://asianaviation.com/s-korea-trade ... ir-merger/
 
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LAXintl
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 6:02 pm

LAX route supposedly planned for May.

In the meantime, in addition to Singapore, Air Premia now operating cargo flights to Vietnam.

http://www.koreaherald.com/view.php?ud=20220112000354
 
BangersAndMash
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Re: Air Premia News and Discussion Thread

Fri Jan 14, 2022 6:55 pm

RoyalBrunei757 wrote:
planemanofnz wrote:
wedgetail737 wrote:

Good timing...on the heels of the Korean Air/Asiana merger (if it truly goes through) slated for this year.

But what if the merger doesn't go through? Isn't that somewhat of a risk?

All the current signs are positive with regard to the merger, several countries have approved the merger, while seven others are still pending. The Korea Fair Trade Commission (KFTC) has also indicated they may approve on condition that some slots are returned and traffic rights are redistributed so that these can be given to domestic low-cost carriers. This is where T'Way and Air Premia fall in. https://asianaviation.com/s-korea-trade ... ir-merger/


Let's be honest here. Apart from US and EU, nothing else really matters. And the EU could still be difficult.

South Korea has a history of protectionism when it comes to its airlines. This could be an opportunity to extract concessions, considering how dominant Korean airlines are on EU-Korea traffic. For a template of how it might shake up, look at how the Air Canada-Transat merger was torpedoed.
 
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LAXintl
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Re: Air Premia News and Discussion Thread

Tue Mar 08, 2022 11:50 pm

Air Premia looking to raise the additional US $47mil funding before its planned passenger services launch. LAX is tentatively planned for May 2022.
It's been running cargo services to Vietnam, Singapore, and Thailand since December with its single frame.

https://www.ch-aviation.com/portal/news ... uel-growth
 
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c933103
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Re: Air Premia News and Discussion Thread

Wed Mar 09, 2022 12:13 pm

planemanofnz wrote:
wedgetail737 wrote:
LAXintl wrote:
DOT yesterday issued final approval of Air Premia's foreign air carrier permit and exemption to serve the U.S.

OST-2021-0085


Good timing...on the heels of the Korean Air/Asiana merger (if it truly goes through) slated for this year.

But what if the merger doesn't go through? Isn't that somewhat of a risk?

They didn't see the merger coming when they formed either. They were trying to position themselves as offering a new type of product
 
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mercure1
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Re: Air Premia News and Discussion Thread

Wed May 04, 2022 5:27 pm

Air Premia secured an investment of KRW 29bil (US$22.9m) through a capital increase. The carrier says it plans to receive an additional $22.9 million coming months

https://centreforaviation.com/news/air- ... se-1134420

Separately, as part of a broader Korean government route allocation process with KE-OZ merger on the horizon, Air Premia was awarded 5x weekly frequencies to Germany, though no details on whether the airline will operate them.

https://centreforaviation.com/news/air- ... ce-1131134

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