South Korea launches third airline

The South Korean government on Friday gave the nation’s third airline Jejuair Co. the green light to begin domestic flights next week, officials told Yonhap news agency. Beginning Monday, the budget airline will run five round-trip flights between Seoul and the southern island province Jeju at a price 70 per cent lower than its larger rivals Korean Air and Asiana Airlines, the Ministry of Construction and Transportation said.

Jejuair said it plans to add four more airplanes to start offering flights between Seoul and the southeastern port city of Busan in June, Seoul and Yangyang on the east coast in July and Jeju and Busan in September.

The airline said in April that it is vying to tapping domestic market only, currently dominated by the nation’s two national carriers.

Established in January last year, Jejuair is 75 per cent owned by the family-run conglomerate Aekyung Group and the remainder by the Jeju provincial government. Aekyung Group produces chemical products and daily necessities such as toothpaste and detergents.

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