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LHT Signs First South Korean Dreamliner Contract with Air Premia

LHT Secures First South Korean Dreamliner Contract with Air Premia
Air Premia, South Korea’s pioneering hybrid service carrier, has entered into a significant long-term agreement with Lufthansa Technik (LHT) to provide component supply services for its Boeing 787-9 Dreamliner fleet. Finalized ahead of the MRO Asia-Pacific event in Singapore, this contract represents LHT’s inaugural Dreamliner partnership with a South Korean airline and marks the beginning of a strategic collaboration between the two companies.
Comprehensive Support for Air Premia’s Dreamliner Fleet
The ten-year Total Component Support (TCS) agreement commits Lufthansa Technik to delivering extensive component services for approximately half of Air Premia’s Dreamliner aircraft. This arrangement grants Air Premia direct access to LHT’s extensive global spare parts inventory, significantly improving the availability of Boeing 787 components. The partnership is expected to yield considerable cost savings compared to traditional in-house maintenance provisioning. To further enhance operational efficiency, LHT will establish a dedicated homebase stock of critical components at Incheon International Airport in Seoul, enabling swift responses to urgent maintenance requirements.
Paul S. Kim, Vice President of Purchasing at Air Premia, underscored the strategic importance of selecting a reliable partner amid ongoing global supply chain disruptions. He noted, “We were looking for a strong player with proven expertise for the Boeing 787 as our sole aircraft type. Lufthansa Technik’s outstanding reputation for latest-generation aircraft, competitive pricing, and flexibility in customizing our cooperation—such as meeting our request for a dedicated home base stock in Seoul—were decisive factors.”
Strategic Alignment Amidst a Competitive Market
Jens Michel, Vice President Corporate Sales North East Asia at Lufthansa Technik, emphasized the synergy between Air Premia’s innovative business model and LHT’s service approach. He stated, “Air Premia aims to deliver higher-than-normal service levels despite competitive ticket prices. Our TCS product is designed to support this ambition by leveraging cost savings while maintaining best-in-class service, which is the hallmark of our company.”
This agreement emerges against the backdrop of intensifying competition within South Korea’s aviation sector. Korean Air, the nation’s largest carrier, recently placed a $50 billion order for Boeing aircraft, including next-generation models, heightening competitive pressures. Industry analysts suggest that Air Premia’s partnership with LHT may attract scrutiny regarding its capacity to compete with established incumbents like Korean Air. Consequently, other airlines may consider strategic adjustments to safeguard their market positions as the industry landscape evolves.
Despite these challenges, Air Premia’s collaboration with Lufthansa Technik underscores its commitment to operational excellence and cost efficiency as it seeks to establish a distinctive presence in South Korea’s dynamic aviation market.

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