Air Premia is expanding its cargo network and has added Frankfurt and Newark to its summer flight schedule out of Incheon Airport (ICN), with Globe Air Cargo Korea promoting the cargo capacity for the airline.
The airline became the first hybrid service carrier from Korea to offer a scheduled US destination when it added flights to Los Angeles (LAX) last year. It added Newark (EWR) to its operations on 22 May and will be operating charter services this summer for Frankfurt (FRA), Barcelona (BCN), and Oslo (OSL).
Air Premia said it will primarily manage its passenger services, whilst Globe Air Cargo Korea will ensure that all cargo duties are covered, from cargo sales and reservations to managing the handling of regular and full charter flights. With five B787-9s, it operates passenger flights to Los Angeles, New York, Frankfurt, Ho Chi Minh, Bangkok, and Narita.
The Korean carrier estimates between 150 and 200 tonnes of cargo passing through its warehouse at ICN each week, bound for Asia, Europe, and the US. These include air and sea e-commerce shipments, electronic equipment, machinery, and auto spare parts.
“Globe Air Cargo Korea has diligently supported Air Premia from the very beginning of its cargo journey just one and half years ago. Since then, Air Premia’s fleet has grown to five Boeing 787-900, with another four aircraft to come before the end of 2024, and it is well on target to achieving profitability in 2024 as planned,” said H.E. Shin, CEO of Globe Air Cargo Korea.
Air Premia and Globe Air Cargo Korea operated their first passenger-to-cargo charter flight in late December 2021. Adrien Thominet, executive chairman of Globe Air Cargo parent company ECS Group, said the ramp-up in cargo operations is ‘proof that an ambitious, modern airline with an experienced cargo GSSA partner at its side, can carve a strong niche in a competitive market long served by established national carrier.’
Air Premia expects to achieve revenue of US$300 million with US$23 million in operation profit this year. The airline, which started in 2021, plans to aggressively expand its network to the Americas and Europe by introducing more than four additional B787-9s.
