Boeing: Booming South Korean LCC market to drive orders over the next 20 years

    Boeing Commercial Airplanes VP marketing Randy Tinseth said increasing demand for low cost travel will drive fleet renewal orders in northeast Asia for the foreseeable future, especially in South Korea (Yonhap, 22-Oct-2018). Mr Tinseth said: “Due to the maturity of the market environment here in northeast Asia, and especially in Korea, a much higher percentage of new airplanes will be used for replacement… In the next 20 years, 69% of all new deliveries in this region will be to replace older and less-efficient airplanes currently in service”. Mr Tinseth added South Korea’s LCC market is “very healthy”, with an annual growth rate of 31% over the past five years.