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Air Busan

Air Busan Co., Ltd., operating as Air Busan (Korean: 에어부산; Hanja: 에어釜山) is a low-cost airline based in Busanjin-gu, Busan, South Korea. It is a subsidiary of Asiana Airlines. The airline began its operation in 2007 as Busan International Airlines Company (Korean: 부산국제항공; Hanja: 釜山國際航空); it launched service in October 2008.

Air Busan is South Korea's third-largest low-cost airline, carrying 4.5 million domestic and 3.6 million international passengers in 2018. Air Busan has grown international passenger traffic by 122% over the past three years, while domestic traffic has grown by 38%.

History

Busan International Airlines Co., Ltd. was established in August 2007. In February the following year, the corporate name was changed to Air Busan Co., Ltd. and an investment agreement was signed by the city of Busan and Asiana Airlines. In April 2008 the company ordered its first aircraft, five Boeing 737s. Two months later, the company was granted a license for regular air transportation. In October 2008, bases were established at Gimpo airport and Jeju international airport and the airline commenced operations between Busan and Gimpo

In April 2009, the airline took delivery of its fifth Boeing 737-400 aircraft. By August that year, Air Busan had marked 10,000 flights in the 299 days since it began operations. In September 2009, the number of passengers carried reached 1 million. International services, between Busan and Fukuoka, began in March 2010 and in April the number of passengers carried reached 2 million. In January 2011 Air Busan took delivery of its first Airbus A321-200 aircraft.

In 2018, Air Busan applied for a preliminary screening for an initial public offering.