South Korean budget operator T’Way Airlines will launch flights between Seoul Incheon and Bangkok Suvarnabhumi at the end of this week, significantly increasing capacity on an already competitive route. The airline has confirmed its will inaugurate flights on October 15 adding to its existing domestic services and links to China and Japan.
T’Way Airlines was established last year, launching operations between Seoul Gimpo and the popular Korean tourist island of Jeju in September. It was formed from Hansung Airlines a former carrier that had offered regional turboprop flights in South Korea but had been plagued by financial concerns following its launch in August 2005 and was forced to its close in October 2008. It now offers 13 flights per day on the Seoul Gimpo – Jeju route.
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AIR TRAFFIC ANALAYSIS: Seoul Incheon – Bangkok Suvarnabhumi (non-stop weekly flights) |
||||
|
RANK |
AIRLINE |
WEEKLY FLIGHTS |
WEEKLY SEATS |
% CAPACITY |
|
1 |
Korean Air |
14 |
5,264 |
29.6 % |
|
2 |
Thai Airways International |
14 |
4,830 |
27.2 % |
|
3 |
Asiana Airlines |
11 |
3,170 |
17.8 % |
|
4 |
Business Air |
7 |
1,498 |
8.4 % |
|
5 |
Jeju Air |
7 |
1,323 |
7.4 % |
|
6 |
Jin Air |
7 |
1,148 |
6.5 % |
|
7 |
Vladivostok Air |
2 |
556 |
3.1 % |
|
TOTAL |
62 |
17,789 |
- |
|
The Seoul Incheon – Bangkok Suvarnabhumi route is already served by seven airlines, including two other South Korean low-cost carriers. Together these offer more than 60 flights per week, providing almost 18,000 weekly seats in each direction.
|
AIR TRAFFIC ANALAYSIS: Seoul Incheon – Bangkok Suvarnabhumi (bi-directional O&D traffic) |
||||||
|
RANK |
AIRLINE |
ESTIMATED O&D PAX |
MARKET SHARE |
% CHANGE |
AVERAGE FARE |
CHANGE |
|
1 |
Korean Air |
378,076 |
29.8 % |
(2.0) % |
$346 |
+ $40 |
|
2 |
Thai Airways International |
335,716 |
26.5 % |
(3.3) % |
$367 |
+ $36 |
|
3 |
Asiana Airlines |
237,604 |
18.7 % |
0.6 % |
$334 |
+ $30 |
|
4 |
Jin Air |
90,295 |
7.1 % |
2.1 % |
$319 |
+ $13 |
|
5 |
Business Air |
72,263 |
5.7 % |
5.7 % |
$332 |
- |
|
6 |
Jeju Air |
67,172 |
1.9 % |
0.3 % |
$354 |
+ $19 |
|
7 |
Orient Thai Airlines |
23,500 |
1.6 % |
1.6 % |
$148 |
- |
|
8 |
Vladivostok Air |
15,833 |
1.2 % |
(8.5) % |
$339 |
( $36) |
|
(Others) |
48,475 |
3.8 % |
(0.2) % |
$342 |
+ $7 |
|
|
TOTAL |
1,268,934 |
- |
19.5 % |
$343 |
+ $22 |
|
An estimated 1.27 million O&D passengers travelled on the route in the past year, up 19.5 per cent on the previous 12 month period. Korean Air currently dominates the market with a 29.8 per cent share, and although this figure has grown during the past 12 months, its share has slipped from 31.8 per cent due to growing competition on the route. The most notable change has been the arrival of Business Air, which already has a 5.7 per cent share of the market with a relatively strong yield.
T’Way Airlines will use a 189-seat Boeing 737-800 on the route and plans to offer competitive fares to stimulate the market and attract customers from rivals. It anticipates that around three quarters of its customers will originate in its home market, with a quarter from Thailand. This is a relatively strong market as official Tourism Authority of Thailand figures show South Korean tourist arrivals to Thailand in the first eight months of this year rose 45 per cent to 507,592, representing around six per cent of Thailand's total arrivals.
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