[Edaily Reporter Kim Kyung-eun ] JIN AIR(272450), a low-cost carrier (LCC) affiliated with HANJIN Logistics Corporation, is trading higher in early trading on the 24th. This is believed to be driven by news that the company will merge with AirBusan(298690)and Air Seoul to launch as “Integrated JIN AIR” in March of next year, which has boosted investor sentiment.

According to MP Doctor, as of 9:27 a.m. today, JIN AIR is trading at 5,670 won, up 500 won (9.67%) from the previous trading day.

JIN AIR, AirBusan, and AirSeoul each held board meetings on the 21st, approved the three-company merger plan, and signed a merger agreement. The merger ratio was calculated at approximately 1:0.28:0.75 for JIN AIR, AirBusan, and AirSeoul, respectively.

The three airlines will hold separate extraordinary general meetings of shareholders this coming December to approve the merger plan. Following that, after obtaining the necessary approvals from relevant authorities—including merger approval under the Civil Aviation Business Act—the merged airline, operating under the name “JIN AIR” as the surviving entity, will launch on March 17 of next year.

The merged JIN AIR plans to efficiently combine each company’s routes, fleet, and human and material resources. Through this, the company aims to secure economies of scale befitting the top LCC and further strengthen its network and service quality. It also plans to enhance competitiveness at major hubs, develop new demand, and expand the range of destination and schedule options available to customers.

JIN AIR stated, “This merger of the three airlines is a significant turning point that brings together the expertise each airline has accumulated to lay a new foundation for growth in South Korea’s LCC industry,” adding, “We will prioritize safety above all else to ensure a successful integration and grow into Asia’s leading LCC through optimized route operations and expanded consumer choice.”