Journal of the Korean Society for Aviation and Aeronautics (한국항공운항학회지)

The Korean Society for Aviation and Aeronautics (한국항공운항학회)
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Analyzing the Public Disclosure of Aviation Safety Investment System and Studying Future Development Strategies

항공안전투자 공시제도 현황 분석 및 향후 발전 방안 연구

  • Seungju Nam ;
  • Ellisa Lee ;
  • Woon-Kyung Song
  • 남승주 (항공안전기술원 항공안전정책실) ;
  • 이엘리사 (항공안전기술원 항공안전정책실) ;
  • 송운경 (한국항공대학교 경영학과)
  • Received : 2024.03.29
  • Accepted : 2024.06.05
  • Published : 2024.06.30
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Abstract

Korean aviation authority required air service providers to submit public disclosure of aviation safety investment to encourage proactive and voluntary safety investments. In 2023, two airport operators and seventeen airlines disclosed their safety investment results and plans for the first time. This study aims to examine and analyze the current status of the disclosure system, identify insights for its development, and set directions for the future. Safety investments by airport operators decreased by 14.3% in 2022 compared to 2021 due to decreased aviation demand. Airline increased their safety investment by 46% to 4 trillion won, investing heavily in MRO and aircraft replacement, leading to a decrease in the average fleet age by 0.8 years. FSCs have shown a significantly higher level of safety investment compared to LCCs. However, LCCs show higher safety investment relative to revenue. It is necessary to consider the characteristics of each operator as well as the scale when comparing safety investments. A roadmap is suggested based on the importance of disclosure items for the strategic approach and improvement measures for the aviation safety investment disclosure system.

Keywords

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