Jin Air, Air Busan, and Air Seoul are set to merge into a single low-cost carrier operating under the Jin Air banner, according to a joint merger agreement approved by the boards of all three Hanjin Group budget airlines on August 21.
Merger Timeline and Regulatory Steps Leading to March 2027
The consolidation process requires shareholder ratification scheduled for December, followed by regulatory approvals. According to Jin Air, the unified airline officially launches on March 17, 2027. This restructuring follows the planned December 17 merger of Korean Air and Asiana Airlines, the respective parent companies of Jin Air and of Air Busan and Air Seoul.
Did you know? Upon completion of the merger, the combined carrier will operate a fleet of 58 aircraft, making it South Korea’s largest low-cost carrier by fleet size, according to company statements reported by The Korea Herald and Asia News Network.
Corporate Restructuring and Share Ratios
Based on the agreement’s provisions, Jin Air will take over Air Busan’s and Air Seoul’s legal status, employees, obligations, rights, liabilities, and assets. Corporate filings indicate that the exchange ratio is established at 1 share of Jin Air for every 0.29 shares of Air Busan and 0.75 shares of Air Seoul.
Jin Air stated that the merger combines the three carriers’ routes, fleets, and resources to achieve economies of scale while bolstering network breadth and service quality. “This merger is an important turning point that consolidates each airline’s expertise to build a new growth foundation for Korea’s low-cost carrier industry,” Jin Air said in an official statement. “We will prioritise safety to complete a successful integration and grow into a leading low-cost carrier in Asia.”
Safety Approvals and Operational Integration
Securing a unified Air Operator Certificate (AOC) remains a primary task ahead of the launch. Jin Air plans to fold Air Busan and Air Seoul fleets and operations into its existing certificate in stages. The carrier aims to pass a safety inspection by the Ministry of Land, Infrastructure and Transport before the scheduled merger date.
To prepare for the transition, the three airlines have initiated joint pilot and crew training, standardized operational manuals, and run joint staff training and social events to build a unified corporate culture, according to company disclosures.
Frequently Asked Questions
When will the Jin Air, Air Busan, and Air Seoul merger be completed?
The unified airline is scheduled to launch on March 17, 2027, pending shareholder ratification in December and subsequent regulatory approvals, according to Jin Air.
What will happen to employees and assets of Air Busan and Air Seoul?
Jin Air will assume all assets, liabilities, legal status, and employees of both Air Busan and Air Seoul under the terms of the merger agreement.
How large will the combined airline’s fleet be?
The merged carrier will operate a fleet of 58 aircraft, positioning it as South Korea’s largest low-cost carrier by fleet size.
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