Korea's six major low-cost carriers decided to raise basic fares for domestic flights. After five years of no hike in ticket prices, they finally decided to reflect some of the increases in consumer prices.
The nation's No. 1 low-cost air carrier Jeju Air will raise its fares for four domestic routes, i.e., the routes linking Jeju with Gimpo, Busan, Cheongju, and Daegu, effective from March 30. This would be the first time for Jeju Air to raise its fares since 2012.
The level of weekday fares would remain unchanged but weekends and peak season fares would be raised in a range from 2.5 percent to 11 percent.
The one-way ticket for weekends from Gimpo to Jeju, for example, would be increased by 5.3 percent from 76,000 won to 80,000 won.
Jeju Air is not alone. Other budget airlines, including Air Busan, Eastar Jet, and T'way Air, also decided to raise fares for domestic flights from the end of this month.
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip
ING Life Insurance Korea Ltd. sees core office buildings and infrastructure in the US and Europe remaining as attractive targets even in the periods of interest rate rises, with asset price gains likely to be offset by rent increases, said&hellip
South Korean investment firms, which have recently snapped up prime office buildings and warehouses in the US and Europe, are struggling to raise capital from domestic institutional investors, under increasing pressure to abandon the deals or tap retail investors. JB&hellip