After the shocking air accidents, two low-cost airlines of Korea, Jeju Air and Air Busan, have simultaneously applied a policy of significantly reducing ticket prices in order to attract back the seriously declining number of passengers.
Jeju Air's brand image was severely damaged after a tragic plane crash last December that killed 179 people.
The event immediately reduced the airline's revenue, as thousands of passengers canceled their tickets due to concerns about flight safety.
According to data from the Ministry of Land, Infrastructure and Transport, the number of passengers using Jeju Air in the 26 days after the accident decreased by 29.3% compared to the previous month.
Air Busan is also facing pressure from authorities after one of its planes caught fire at Gimhae airport last month.
Faced with a sharp drop in demand for air travel, Jeju Air has launched a large-scale discount campaign, with ticket prices for the Seoul - Jeju route now below 20,000 won (about 348,000 VND), more than half the usual price.
Air Busan also applies a similar strategy, aiming to avoid customers turning their backs on low-cost airlines.
The safety concerns not only affected Jeju Air and Air Busan, but also other low-cost airlines such as Jin Air and T'way Air.
According to data from the Ministry of Land, Infrastructure and Transport of South Korea, the number of passengers using Jin Air and T'way Air decreased by 10.4% and 5.6% respectively during the same period.
In contrast, traditional airlines such as Korean Air and Asiana Airlines only decreased by about 2%.
According to SCMP, an aviation industry expert commented: "Low-cost airlines have no choice but to reduce prices to minimize the impact and ensure revenue.
However, if they continue to follow this model, safety concerns will always recur due to lack of funds to invest in aircraft maintenance."
