- Jin Air, Air Busan, and Air Seoul signed a merger agreement on 21 August 2026
- The combined airline will launch as Unified Jin Air on 17 March 2027
- The unified carrier will operate 58-59 aircraft, becoming Korea’s largest budget airline
- The merger follows the Korean Air-Asiana Airlines parent company consolidation
- Stockholders will receive Jin Air shares at set ratios for each airline
South Korea’s low-cost carriers Jin Air, Air Busan, and Air Seoul have signed an official merger agreement on 21 August 2026 to combine into a single low-cost carrier under the Jin Air name, creating the country’s largest budget airline by fleet size. The boards of all three airlines formally approved and signed the merger contract on 21 August, with shareholders from each company scheduled to meet in December 2026 to vote on and ratify the agreement. The combined airline will officially launch as Unified Jin Air on 17 March 2027, and the Air Busan and Air Seoul brands will disappear.
The merger follows the larger December 2026 merger of the parent companies, Korean Air (owner of Jin Air) and Asiana Airlines (owner of Air Busan and Air Seoul). Jin Air will take over all assets, liabilities, legal rights, and staff from both Air Busan and Air Seoul under the absorption arrangement. Stockholders will receive 1 share of Jin Air for every 0.29 shares of Air Busan and 1 share of Jin Air for every 0.75 shares of Air Seoul.
The unified airline will operate a combined fleet of 58 to 59 aircraft, positioning it ahead of major domestic competitors including Jeju Air and T’way Air. The airline plans to merge Jin Air and Air Seoul’s strong setups at Incheon International Airport with Air Busan’s regional network out of Busan. Before the March 2027 launch, Jin Air must adjust its Air Operator Certificate with South Korea’s Ministry of Land, Infrastructure and Transport to bring all aircraft under a single safety umbrella. Separate booking systems, apps, and websites will eventually close, with passengers buying tickets, checking in, and managing flights on a single integrated digital platform.
Park Sam-ryeong, Chief Executive of Jin Air, shared: “This merger represents a significant step forward for the Korean low-cost carrier industry, and we are confident that the combined airline will offer passengers a more comprehensive network and improved services.”
