Korean startup Air Premia signs for five Boeing 787-9

Seoul, South Korea - South Korean start-up Air Premia, which aims to begin operations in 2020, has signed an order commitment with Boeing for five 787-9 Dreamliners.

The deal between Air Premia and Boeing is valued at 1.4 billion dollars at list prices. The order commitment has to be converted to a firm order when both sides agree on the terms of the final contract.

Peter Sim, CEO of Air Premia, said that the 787-9 fits perfectly with the airline's unique business model.

In the business model of the Korean carrier, there is no Business Class on board. On the other hand, passengers will benefit from a legroom of 35 inches in Economy and 42 inches in Premium Economy on average.

According to Air Premia CEO, Economy Class tickets will be around 20% cheaper than competitors Korean Air and Asiana Airlines

Air Premia wants to begin operations next year in September with flights to destinations within Asia. From 2021, the airline plans to launch new routes to Los Angeles and San Jose in the United States.

In the long run, flights to Europe and Oceania are among the new carrier's plans as well.