This Budget Airline Says It Can Cut Air Fares by 30%
- Aero K to enter crowded Korean skies as 7th low-cost airline
- Backed by venture funds, carrier sees profit in third year
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A new South Korean budget carrier says it can help push air fares down by as much as 30 percent and still stay profitable in a market already crowded with six rivals.
Aero K Airlines Co., backed by venture capital funds, plans to use new, fuel-efficient aircraft and a base where airport levies are at least 60 percent cheaper than the nation’s main hub in Seoul, Chairman Kang Byung-ho said in an interview. The operator expects to get a permit this month and start services as early as April as nation’s the seventh low-cost airline, he said.