Seoul, Aug 29
Investments by South Korean airlines and airport operators in safety measures rose 5.7 per cent in 2024 from a year earlier, though leading budget carrier Jeju Air recorded a sharp decline, the transport ministry said on Friday.
The combined investment by two airport operators and 16 air carriers in safety measures reached 6.17 trillion won (US$4.45 billion) last year, up from 5.84 trillion won in 2023, according to the Ministry of Land, Infrastructure and Transport, reports Yonhap news agency.
The ministry projected the figure will increase to 10.2 trillion won this year and 10.65 trillion won in 2026.
By company, the country's two full-service carriers -- Korean Air Co. and Asiana Airlines Inc. -- accounted for 75 percent, or 4.63 trillion won, of the total last year.
Nine low-cost carriers' investments climbed 2.2 percent to 1.24 trillion won. Among them, Jeju Air and Air Busan Co. were the only two budget carriers that reported reduced spending on safety measures, the release said.
The remaining five are small aircraft operators.
Jeju Air's investment fell 36.5 percent to 313.5 billion won, while that of Air Busan declined 23.3 percent to 175.9 billion won.
Jeju Air was involved in a fatal crash in December when a B737-800 arriving from Bangkok struck the outer wall of Muan International Airport during a belly landing. The accident killed 179 of the 181 people on board.
Of the carriers' overall safety investment, 61.4 percent, or 3.61 trillion won, went to aircraft maintenance and repairs.
The Korea Airports Corp. and Incheon International Airport Corp. together spent 290.3 billion won on safety last year, up 12.3 percent from a year earlier.
The ministry said it plans to recommend that airlines purchase newer aircraft and enforce stricter safety rules for pilots, flight attendants and flight control systems.
—IANS
— IANS
Reader Comments
Good to see overall safety investment increasing in South Korea. Indian airlines should take note - we need similar transparency and commitment to safety standards in our aviation sector.
₹3.61 trillion just on maintenance and repairs shows how expensive aviation safety is. This makes me appreciate why air tickets cost what they do - safety comes at a price worth paying.
The ministry's recommendation for newer aircraft makes sense. Older planes require more maintenance and can be less safe. Hope Indian regulators are paying attention to these trends.
ï¸â€â™‚ï¸ As someone who flies frequently for work, this kind of transparency is reassuring. I wish DGCA would publish similar detailed safety investment data for Indian airlines.
While the overall trend is positive, the fact that two budget carriers reduced safety spending is alarming. Budget shouldn't mean cutting corners on safety - that's non-negotiable.
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