Budget Airlines News

Interferry CEO Mike Corrigan reflects on the crushing impact of COVID-19…but suggests that the gradual easing of travel restrictions offers a turning point on the road to recovery.Last year the ferry industry was riding the crest of a wave. In an end-of-year review, I went so far as to express my belief that the industry had rarely if ever been in such good health. Throughout the developed world, most operators were reporting year-on-year traffic growth and many had set new records for passenger and vehicle volumes.

The operator of the South Korean ferry that capsized and sank this month with the loss of about 300 lives was apparently being squeezed by competition from budget airlines and had to increasingly rely on its cargo business. The Sewol ferry sank on a routine voyage south from the port of Incheon to the holiday island of Jeju on April 16. Investigators have not determined the cause of the accident but media has reported that the ship was overloaded with cargo and it may have been poorly stowed. The ship was carrying 476 passengers and crew and had a capacity for 956. The Korean Register of Shipping, which tested and certified the Sewol, stipulated that it should be loaded with no more than 1,070 tonnes of cargo and passengers combined. It is not clear how much cargo it was carrying.