Jin Air to merge with Air Busan and Air Seoul by March 2027

Jin Air, Air Busan, and Air Seoul, three low-cost carriers under the Hanjin Group, have approved a merger to form a single entity under the Jin Air name. The boards of all three companies signed the merger agreement on Friday, with the goal of officially launching the integrated airline on March 17, 2027.

Under the agreement, Jin Air will absorb Air Busan and Air Seoul, assuming their assets, liabilities, employees, and legal status. The merger ratio is set at 1 share of Jin Air for every 0.2862684 shares of Air Busan and 0.7501939 shares of Air Seoul. The consolidation follows the planned merger between Korean Air and Asiana Airlines.

The integration aims to achieve economies of scale by unifying fleets, routes, digital platforms, and maintenance infrastructure. The companies are currently working to standardize training manuals and corporate culture. A critical upcoming step is securing a unified Air Operator Certificate (AOC) through safety inspections by the Ministry of Land, Infrastructure and Transport.