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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] South Korean airlines have requested temporary relief from airport slot usage rules as rising fuel costs driven by Middle East tensions place increasing pressure on the aviation industry.
According to industry sources on March 23, domestic carriers have asked the Ministry of Land, Infrastructure and Transport (MOLIT) to consider measures such as easing slot usage requirements, suspending the retrieval of traffic rights, and allowing the use of strategic aviation fuel reserves.
Under international and domestic regulations, airlines must typically utilize at least 80% of their allocated slots—rights to take off and land at specific times—to retain priority in future scheduling seasons. Falling below this threshold could result in the loss of so-called “grandfather rights,” allowing competitors to claim those slots.
Airlines are increasingly concerned that reduced flight operations caused by higher fuel costs could lead to the loss of valuable slot rights despite temporary market conditions.
MOLIT is reviewing the situation by taking into account oil price trends, industry conditions, and potential inconvenience to passengers. While there is currently no immediate pressure on traffic rights—which are subject to revocation if unused for more than 20 weeks annually—the issue of slot adjustments remains under close consideration.
Any potential use of strategic aviation fuel reserves would require coordination with relevant government ministries.
Industry analysts expect that future slot adjustments will depend on the duration of elevated oil prices. A prolonged period of high oil prices could lead to further flight reductions and increased likelihood of slot reallocations, while an early stabilization may limit disruptions.
알파경제 김지선 특파원(stockmk2020@alphabiz.co.kr)
