Jin Air aims to become Asia’s top premium short-haul carrier
Jin Air CEO, Jae Kun Kim, met with media on 17-Jun-08 and disclosed aims to make Jin Air Asia’s top premium short-haul carrier based on its own practical customer services.
On 15-Jun-08, Jin Air held an open event in downtown Seoul announcing its butterfly CI, silver and green aircraft design, jean uniforms with all its employees, dubbed ‘Jini’s. The name “Jin” comes from a Chinese character meaning ‘true’ or ‘genuine.’ It can also be interpreted as ‘jeans.’
Commencing operations this coming 17-Jul-08 between Seoul (Gimpo International Airport) and Jeju, Jin Air aims to keep ticket prices at the 80% level compared to domestic legacy carriers on the same route.
Expansion Plans
Jin Air will commence operations with eight flights per day between Seoul and Jeju. This number will be increased to 16 flights in October and 18 flights in December. A second route between Seoul and Busan will be launched in October with eight daily flights, which will be increased to twelve in May-09. The third Busan-Jeju route will be inaugurated in Apr-09 with eight daily flights, which will also be expanded to twelve in May.
International flights will be inaugurated according to the Korean government’s approval. Routes will cover open sky policy regions in China, Japan and Southeast Asia.
Jin Air will expand its fleet as its network increases. Jin Air will operate three Boeing 737-800 aircraft by the end of this year, all equipped with 189 economy seats. The carrier will commence operating two 292-seater A300-600 aircraft next year, March and April respectively. The fleet will number a total of five aircraft.
Less Expensive
Jin Air’s fares will be lower than the other domestic legacy carriers. Jin Air’s fare system will be variously segmented according to flight departure time.
Expect break even in three years, cost cutting to meet target
Jin Air is targeting sales of KRW160 billion in 2010, when it expects to break even and reach profit. Expected revenue is KRW18 billion this year and KRW120 billion next year.
To meet its target amidst rising fuel prices, Jin Air will cut costs across all controllable operational fields. It will not levy fuel surcharges, but may change if fuel prices continue to rise above a tolerable level.
© Centre for Asia Pacific Aviation. Date posted: 19-Jun-08
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Jin Air aims to become Asia’s top premium short-haul carrier 
