Asiana banking on China's growth potential

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China will become a bigger part of Asiana Airlines' growth strategy over the next few years, as the carrier aims to capture a bigger portion of the country's travelling population.

"Within three years, 100 million Chinese are travelling out of their country and 5 million of these people will come to Korea," its president and chief executive Yoon Young-Doo tells Flightglobal. "China is our number one growth market."

He adds that there are also many investments and business dealings between China and Korea, a development that is further driving up demand for air travel between the two countries.

Asiana is thus working on launching services to Shandong province in China, as well as to Hainan.

When asked about competition in Korea's low-cost carrier market, Yoon says he believes there is overcapacity with five such carriers - Jeju Air, Air Busan, Jin Air, Eastar Jet and T'way Air - in the country.

"It is definitely affecting yields with so many players, but there is little chance of consolidation because even if the business fails, there are many in Korea who are keen to enter the airline business," says Yoon.

Yoon also detailed the delivery schedule of the six Airbus A380s Asiana has on order - two aircraft will be delivered annually in 2014, 2015 and 2017 respectively.

These aircraft will be deployed on services to the United States - first to Los Angeles, then to New York.