Jin Air signed (24-Aug-2026) an agreement with Air Busan and Air Seoul to merge all three LCCs into a single low cost airline under the Jin Air brand, expected to launch on 17-Mar-2027. The three airlines plan to seek final approval from shareholders in Dec-2026 and Jin Air will subsequently apply to South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) for approval for required modifications to its air operator's certificate. Under the merger agreement, Jin Air will assume all of Air Busan and Air Seoul's assets, liabilities, rights and obligations and employees. The merger ratio is set as one Jin Air share to 0.29 shares of Air Busan and 0.75 shares of Air Seoul. Jin Air stated: "Through this merger, the three companies plan to efficiently combine their respective routes, fleets, and human and material capabilities to secure economies of scale and further enhance their networks and service quality", adding: "In addition, they intend to increase the competitiveness of key hubs and develop new demand to expand the range of destinations and flight schedules available to customers". As previously reported by CAPA, Korean Air plans to complete its acquisition of and merger with Asiana Airlines and launch as an integrated airline under Korean Air's air operator certificate on 17-Dec-2026. [more - original PR - Korean]
Background ✨
Korean Air and Asiana Airlines secured board and shareholder approvals for their merger agreement, with an integrated airline scheduled to launch on 17-Dec-2026, and it accelerated systems integration and joint training ahead of that date1. Jin Air reportedly planned KRW708 billion of aircraft lease agreements with Korean Air and Asiana Airlines covering 10 A321neos, one A321ceo and three 737-900s, with deliveries from Sep-2026 through Dec-20352. Jin Air also introduced an A320neo full flight simulator in May-2026 to prepare for Airbus deliveries in 2H2026 and the planned LCC consolidation in 1Q20273.