Air Premia decided to order five Boeing 787-9 for its future aircraft use from a handful of lessors.
Air Premia plans to introduce three aircraft in the first year of operation, 2020, and add up two jets every next year making ten aircraft in five years. Since Air Premia follows single-fleet strategy, the fleet model will be 787-9 for further orders either.
Air Premia has made the final aircraft selection since 787-9 is indeed the perfect fit for its new business model.
Air PREMIA is South Korea’s first hybrid carrier focused on medium and long-haul routes. The company takes a single [wide-body] fleet and two-class configuration strategy forward in order to maintain high operational efficiency with low structural complexity.
Most of the target routes are strategically comprised of more than six hours flights: North America, Europe, Oceania. Air Premia expect to inaugurate the first flight in September 2020. The long-haul service will be able from 2021 including Los Angeles and San Jose. Air Premia plans have set Honolulu, Vancouver, Munich (or Berlin), Cairns for its target destination also.
Air PREMIA provides two seat classes; Premium Economy (PE) class brings 42 inches pitch with business class level services such as priority check-in, boarding, and baggage handling; Economy seat pitch will be 35 inches, the widest economy seats in the class. The aircraft Air Premia selected will provide 309 seats: 56 seats for Premium Economy class, 253 seats for Economy class.
The ticket price of economy seats of Air PREMIA is set to 80 ~ 90% of Korean Full-Service-Carrier(FSC)’s economy class, and Premium Economy ticket price is set to 140% of Korean FSC’s economy class.
The 787-9 is the second member of the Dreamliner family, which offers 20 to 25 percent better fuel efficiency per seat and lower emissions than the airplanes they replace. Thanks to lower cabin altitude, improved humidity, and excellent sound quality, Air Premia will successfully deliver the far advanced travel experience to its passengers.
Boeing official states “We are pleased that Air Premia has selected the 787 Dreamliner and we look forward to welcoming a new 787 operator in the near future.”
Air PREMIA secured KRW 37 billion (appx. USD 33 million) by September 2018 through anchor and series A funding rounds. Through Series B fund round, Air PREMIA has received a total KRW 165 billion (USD 147 million) sized intention for investment across seven private equity funds in Korea.
Air PREMIA resubmitted its ACL application to MOLIT on November 2, 2018, since the government has required all proposed airlines to resubmit their applications simultaneously following the revision of Aviation Business Act that MOLIT had publicized on October 31, 2018. The resulted is expected to be announced in the first quarter of 2019.