Air PREMIA announces that the company has submitted its Air Carrier License (ACL) application to Ministry of Land Infrastructure and Transport (MOLIT) on October 12 since other proposed airlines have applied for the ACL before the revision of Aviation Business Act. Air PREMIA is Korea’s first hybrid-service-carrier focused on medium and long-haul routes where existing low-cost-carriers are not primarily targeting.
The ACL review plan which has been announced on October 8 by MOLIT is a primary guide for Air PREMIA’s decision process regarding the ACL application. MOLIT declared that the government would start to receive applications after the revision of law which will be the end of this October. Air PREMIA will cooperate in government’s requests accordingly as the government has announced its plan for a fair evaluation.
Air PREMIA fully satisfies all requirements that the government has asked such as sound business plan, capital size, fleet planning, safety rules, hiring schedules and other remaining conditions. Air PREMIA forecasts in confident to raise KRW 100 billion before the official inauguration since the Company had secured KRW 37 billion (appx. USD 33 million) and there are investors who have the intention to invest more than KRW 70 billion. Air PREMIA is planning to launch the service in 2020 and to adopt the latest generation aircraft: Boeing 787-9 or Airbus 330 neo.