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티웨이항공 함철호 사장, 외형성장 보다 내실경영에 방점
저가항공 시장 경쟁 과열 조짐, M&A통한 구조조정 불가피 할 듯
By 서지연Published : April 10, 2014 - 17:49
7대의 항공기를 보유해 국내 항공사 중 가장 규모가 작은 티웨이항공이 날로 경쟁이 치열해져 가고 있는 저비용 항공업계에서 최근 혁신적인 경영 행보로 시장의 주목을 받고 있다.
티웨이항공은 일례로 지난해 4월 경쟁사 중 하나인 이스타 항공를 설득해 업계 최초로 서울 김포-타이베이(송산) 노선 공동운항 (코드쉐어)를 시작했다. 지난달에는 대구-제주 노선을 업계 최초로 취항시키기도 했다.
티웨이항공은 일례로 지난해 4월 경쟁사 중 하나인 이스타 항공를 설득해 업계 최초로 서울 김포-타이베이(송산) 노선 공동운항 (코드쉐어)를 시작했다. 지난달에는 대구-제주 노선을 업계 최초로 취항시키기도 했다.
“낮은 항공료가 핵심 경쟁력인 저가항공은 (생존을 위해) 세일즈 마케팅의 지속적인 혁신을 추구할 수 밖에 없다”라고 티웨이항공 함철호 대표는 코리아헤럴드와의 인터뷰를 통해 밝혔다. 혁신적 마케팅 활동의 일환으로 티웨이항공은 지난날 자사가 운영하고 있는 국내, 국제선 대상, 파격적인 초저가 항공권 할인 행사를 단행해 시장에서 돌풍을 일으킨 바 있다.
2011년 티웨이항공 대표 취임 전 대한항공 국제업무 부문 전무를 역임한 함대표는 항공업계에서 35년 이상 근무한 베테랑이다.
“항공 비즈니스는 크기와 상관없이 거대 자본이 필요하며 고비용 산업이다. 따라서, 저비용 항공사가 성공하려면 마케팅 노하우와 더불어 (경영 실수를 최소함으로써) 비용관리가 무엇보다 중요하다”고 함대표는 강조했다.
항공사 수익률은 기대 이하로 낮은 것이 사실인데, 201년 미국 컨설팅 사 올리버 와이먼 사 분석에 따르면 전세계 항공사 평균 수익률은 1%에 머물러 있다.
“2013년 티웨이항공의 수익률은 2%대를 기록해 업계 평균을 상회하는 성적을 거두었다”고 함대표는 밝혔다. 회사 측 자료에 따르면 티웨이 항공은 지난해 1670억의 매출과 40억의 영업이익을 달성했다.
수익률 향상에 대한 전망에 대해 함대표는 시장 경쟁 심화로 두드러지는 향상은 어려울 것으로 전망했다.
현재 시장에는 티웨이 이외에 5개의 국내 저비용 항공사가 영업중인데, 이번 주 수요일 아시아나 항공사가 두번째 저비용항공사 설립을 검토 중이라고 발표함으로써 조만간 6번째의 국내 저비용항공사가 탄생할 전망이다. 아시아나는 2008년부터 저가항공 자회사로 에어부산를 운영하고 있다. 또한 최근에는 한국 해외여행객 증가와 한국방문 외국 관광객 증가 추이를 겨냥해 외국 LCC의 취항도 늘어가고 있는 추세다.
“한국 저비용항공 시장 규모에 비해 시장에 player가 너무 많다는 판단이다. 결국 업계 전체 생존을 위해 규모의 경제를 추구하게 될 것으로 예상되며 따라서 시장 논리에 의해 몇 개의 저비용회사는 M&A 시장의 매물로 나올 것”이라고 함대표는 전망했다.
“치열한 시장 환경 속에서 티웨이 항공의 생존 전략은 외형성장 보다는 시장 변화에 신속히 대응할 수 있는 효율성과 탄력성을 갖추기 위해 노력할 것”이라고 그는 강조했다.
티웨이항공은 2003년 설립한 한성항공을 모태로 하고 있으며, 2010년 티웨이항공으로 사명을 변경해 재취항 했다. 작년 2분기 9년만에 최초 흑자를 기록한 후 매출, 영업 이익 면에서 꾸준한 증가세를 보이고 있다. 506명의 직원을 보유한 티웨이항공은 2015년까지 항공기 10대를 확보해 외형적 성장도 갖출 예정이다.
(코리아헤럴드 서지연 기자)
<관련 영문 기사>
Tiny T’way reaps rewards of efficiency
Airline’s CEO stresses innovation, cost control for budget carriers’ success in Korea
T’way Air may be the nation’s smallest budget carrier with just seven short- and midrange aircraft, but it is quickly building a reputation as an innovative player in a market which is reaching a fever pitch of competition.
The carrier, for instance, moved faster than other low-cost carriers to become the first to launch a route between Daegu and Jejudo Island in March.
The same month, the carrier created a sensation by introducing the cheapest-ever early bird promotion fares for domestic and international routes.
In April 2013, it launched a service to share codes with Eastar Jet for its Gimpo (Seoul)-Songshan (Taipei) route so that they may back each other up. It was the first such case between rival budget carriers.
“Carriers like us, armed with cheap flights, have to constantly seek innovation in sales and marketing methods,” T’way Air CEO Hahm Chul-ho said in an interview with The Korea Herald.
Hahm is a former senior vice president of Korean Air with more than 35 years of experience in the airline industry.
“Another key factor for success is cost control as the airline business is capital-intensive and has high fixed costs.”
According to an analysis by U.S.-based consultancy Oliver Wyman, the average profit margin of airlines around the world was around 1 percent in 2012.
“T’way’s profit margin in 2013 was 2 percent, which was higher than the industry average,” Hahm said. The carrier posted 167 billion won ($160 million) in sales and 4 billion won in operating profit in 2013.
“It will not be easy to lift the firm’s profit margin as the market is expected to become more competitive,’’ he added.
Currently, five local low-cost carriers, including T’way, are in competition. The industry will soon see the arrival of a sixth player, as the nation’s No. 2 airline company Asiana has announced a plan to launch another. The company has been running its first budget carrier, Air Busan, since 2008.
In addition, foreign players are also vying for a place in the market after taking note of the growing number of Korean travelers and foreign visitors to Korea.
“The Korean market is too crowded, considering the market size. Some players will be put on the merger and acquisition market at some point,” the airline industry veteran predicted.
As for T’way’s business strategies, Hahm said the company would not be growth-driven for the time being.
‘‘Instead, we will make efforts to raise efficiency and flexibility to more quickly cope with changing market conditions,” he said. The company does have plans to increase its fleet to 10 by 2015 from the current seven.
T’way started as the country’s first budget carrier, Hansung Airline. It has 506 employees, and swung into the black in the second half of 2013 for the first time in its nine-year history.
By Seo Ji-yeon(jyseo@heraldcorp.com)
Tiny T’way reaps rewards of efficiency
Airline’s CEO stresses innovation, cost control for budget carriers’ success in Korea
T’way Air may be the nation’s smallest budget carrier with just seven short- and midrange aircraft, but it is quickly building a reputation as an innovative player in a market which is reaching a fever pitch of competition.
The carrier, for instance, moved faster than other low-cost carriers to become the first to launch a route between Daegu and Jejudo Island in March.
The same month, the carrier created a sensation by introducing the cheapest-ever early bird promotion fares for domestic and international routes.
In April 2013, it launched a service to share codes with Eastar Jet for its Gimpo (Seoul)-Songshan (Taipei) route so that they may back each other up. It was the first such case between rival budget carriers.
“Carriers like us, armed with cheap flights, have to constantly seek innovation in sales and marketing methods,” T’way Air CEO Hahm Chul-ho said in an interview with The Korea Herald.
Hahm is a former senior vice president of Korean Air with more than 35 years of experience in the airline industry.
“Another key factor for success is cost control as the airline business is capital-intensive and has high fixed costs.”
According to an analysis by U.S.-based consultancy Oliver Wyman, the average profit margin of airlines around the world was around 1 percent in 2012.
“T’way’s profit margin in 2013 was 2 percent, which was higher than the industry average,” Hahm said. The carrier posted 167 billion won ($160 million) in sales and 4 billion won in operating profit in 2013.
“It will not be easy to lift the firm’s profit margin as the market is expected to become more competitive,’’ he added.
Currently, five local low-cost carriers, including T’way, are in competition. The industry will soon see the arrival of a sixth player, as the nation’s No. 2 airline company Asiana has announced a plan to launch another. The company has been running its first budget carrier, Air Busan, since 2008.
In addition, foreign players are also vying for a place in the market after taking note of the growing number of Korean travelers and foreign visitors to Korea.
“The Korean market is too crowded, considering the market size. Some players will be put on the merger and acquisition market at some point,” the airline industry veteran predicted.
As for T’way’s business strategies, Hahm said the company would not be growth-driven for the time being.
‘‘Instead, we will make efforts to raise efficiency and flexibility to more quickly cope with changing market conditions,” he said. The company does have plans to increase its fleet to 10 by 2015 from the current seven.
T’way started as the country’s first budget carrier, Hansung Airline. It has 506 employees, and swung into the black in the second half of 2013 for the first time in its nine-year history.
By Seo Ji-yeon(jyseo@heraldcorp.com)
