New Kansai International Airport Co. plans to nearly double the ratio of international flights offered by budget carriers to 25 percent from 14.4 percent now by summer 2014, its midterm management plan says.
The plan, which the operator of the international airport serving greater Osaka will announce Wednesday, lays out a growth strategy centered on low-cost carriers, including a plan to open a third passenger terminal exclusively for LCCs as early as fiscal 2015.
It also seeks to attract more LCCs, one of the aviation industry's main growth sectors, by taking advantage of the airport's ability to operate 24 hours a day. The plan includes discounted airport use fees for flights arriving or departing in the very early or late hours, and providing reasonably priced hotels nearby.
The company will aim for an operating profit of ¥28.8 billion in fiscal 2014, up about 60 percent from its profit in fiscal 2011 ended in March.
Combined with revenue from Osaka International Airport, which the company also operates, it also aims for a joint operating profit of ¥35.3 billion in fiscal 2014.