South Korean carrier Air Premia announced on Wednesday a provisional deal to buy...
It will offer two classes including Premium Economy and a coach class still with extra legroom, called Economy Plus.
Sim, former head of a biotech company who invested in the startup along with a group of tech entrepreneurs, said Air Premia would also target a young, connected audience with its own onboard streaming product. Analysts say airlines with novel business models or those participating in the volatile long-haul, low-cost market face risks including technical outages away from base and higher crewing costs compared to short-haul budget carriers.Asked how he would avoid financial strains like those at Norwegian Air , which also invested in a new fleet of 787s only to rack up debt, Sim said the “fan base” of the two airlines was different.
Seouleaguer Co. Ltd., a distributor of Botox and fillers, holds a 9.53% stake in the unlisted Air Premia.
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