Travel Firms Enter Emergency Mode as High Oil, Weak Won and LCC Flight Cuts Hit Demand

Korea’s travel industry has entered emergency management as high oil prices and a weak won, triggered by the Middle East war, continue to weigh on aviation and tourism. According to industry sources on the 15th, the Korea Association of Travel Agents (KATA) began formally assessing damage among member companies after low-cost carrier flight reductions and sharply higher fuel surcharges started affecting travel agencies. Jeju Air cut 187 round-trip international flights in May and June, Jin Air reduced 176 flights mainly on Phu Quoc and Guam routes, and Air Busan cut 212 round trips. Since the war, reduced international services by domestic LCCs have reached about 1,000 round trips. Some airlines, including T’way Air, have introduced unpaid leave, while travel agencies are adopting shorter work schedules and preparing countermeasures. KATA plans to ask the government for practical support, including employment retention measures. Source: rss.donga.com