South Korea's largest airline, Korean Air, plans to create a large low-cost carrier under its Jin Air brand following its merger with Asiana Airlines. The deal aims to consolidate Korean Air's Jin Air with Asiana's subsidiaries Air Busan and Air Seoul, potentially surpassing current budget leaders Jeju Air and T'Way. The estimated $1.3 billion deal is expected to be finalized by the end of the year.
FILE PHOTO: A man walks next to the logo of Korean Air airlines during an organised media tour, at the company's Cabin Crew Training Center in Seoul, South Korea , June 27, 2024. REUTERS/Kim Soo-hyeon/File PhotoSEOUL : South Korea 's largest airline Korean Air will create one large low-cost carrier under its existing Jin Air brand after its merger with smaller rival Asiana Airlines .
Korean Air expects to complete its 1.8 trillion won purchase of just over two-thirds of South Korea's debt-laden Asiana by the end of the year, having announced the deal in 2020. The Asiana acquisition received final regulatory approval from the European Union's competition regulator on Thursday, and is expecting the last remaining regulatory nod from U.S. authorities imminently in time to complete the deal by Dec. 20.
Together Jin Air, Air Busan and Air Seoul have around 58 aircraft and in November operated 8 per cent of Korea's domestic and international capacity, according to Cirium schedule data.
Korean Air Asiana Airlines Jin Air Air Busan Air Seoul Low-Cost Carrier Merger South Korea
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korean Actor Gong Yoo Returns to TV with Netflix's 'The Trunk'South Korean actor Gong Yoo is set to return to the small screen with Netflix's upcoming mystery melodrama 'The Trunk', after a three-year hiatus. The actor revealed the intense preparation he underwent for the role, including dieting and working out. Gong Yoo plays a lonely music producer in the series, which explores themes of love and hidden traumas.
Read more »
North Korean white paper says South's president has raised risk of nuclear warSEOUL - North Korean state media released a white paper on Nov 3 accusing South Korean President Yoon Suk Yeol of exposing his country to the danger of nuclear war through his policies towards the North.
Read more »
Separated but not forgotten: South Korean adoptees look for their birth parentsAbout 200,000 babies have been sent overseas since the 1950s, but the circumstances under which they were allowed to be adopted have been called into question.
Read more »
Singaporean Woman in Vegetative State After South Korean Health ScreeningA Singaporean woman is in a vegetative state after suffering cardiac arrest during a gastroscopy as part of a health screening in South Korea. Her husband is suing the hospital for medical negligence. The woman's family hopes to bring her back to Singapore for treatment but are awaiting an independent medical assessment required for the lawsuit.
Read more »
South Korea could deploy team to Ukraine to monitor North Korean troopsSouth Korea has said it could deploy a team to Ukraine to monitor North Korean troop movements in Russia, amid growing concern over Moscow and Pyongyang's deepening military alliance.
Read more »
Wealthy South Korean parents ditch passports to get kids into international school“Citizenship by investment” programmes serve as crucial pathways for some of South Korea’s wealthy.
Read more »