[Asia Economy Reporter Jo Gang-wook] The newly established low-cost carrier (LCC) Air Premia has received its Air Operator Certificate (AOC) for international air transport operations.
The Ministry of Land, Infrastructure and Transport announced on the 16th that it has completed the safety operation system inspection for Air Premia and issued the AOC in accordance with the Aviation Safety Act.
The AOC is a type of safety license that comprehensively verifies whether an airline that has obtained an air transport business license has the necessary professional personnel, facilities, equipment, and operation and maintenance support systems required for safe operation before commencing flights.
Previously, Air Premia obtained its air transport business license in March 2019. Following the submission of the AOC application in February last year, the Ministry formed a dedicated inspection team consisting of specialized supervisors in areas such as piloting and maintenance, and has been conducting safety operation capability inspections since March of the same year.
The Ministry explained that the duration for Air Premia to obtain the AOC was somewhat longer compared to other airlines due to delays in aircraft delivery schedules?from the originally planned July last year to April this year?caused by the closure of Boeing manufacturing plants amid the spread of COVID-19.
Additionally, Air Premia prepared for the AOC with a capital of 19.2 billion KRW at the time of obtaining the new air transport business license. The Ministry evaluated that the currently ongoing additional capital increase (approximately 65 billion KRW) and revenues generated after commencing operations will be sufficient to cover operating expenses such as personnel costs, lease fees, and maintenance costs for a certain period.
Air Premia can begin operations after completing procedures such as obtaining route approval and fare registration from the Ministry. After commencing operations, it will be designated as a government priority supervision target for a certain period and receive special management.
The Ministry plans to assign a dedicated supervisor to Air Premia who will be stationed on-site until one month after the launch to closely monitor overall compliance with regulations, including flight plan preparation, pre- and post-departure aircraft inspections, and real-time flight control.
Furthermore, a comprehensive inspection will be conducted six months after the launch to verify whether the safety operation system confirmed at the time of AOC issuance is being continuously maintained.
Regarding the plan to secure financial soundness, the Ministry will regularly check the implementation status and closely manage and supervise the financial condition if there are any changes to business plans such as additional aircraft acquisitions or new route launches.
A Ministry official stated, "Issuing the AOC marks the beginning stage of safety management, where airlines are obligated to maintain safe operation systems," and urged, "We ask Air Premia to continue investing in aviation safety and demonstrate responsibility by providing high-quality services."
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