Starting from 17 March 2027, South Korea’s Jin Air, Air Busan, and Air Seoul are set to combine into a single low-cost carrier. Parent group Hanjin is thus continuing the merger trend it started by planning for Korean Air and Asiana to become one airline in 2026.
On 21 August 2026, the boards of Jin Air, Air Busan, and Air Seoul signed off on a merger agreement set to go through in 2027. The three South Korean budget airlines are part of the same Hanjin parent group and will be known as Jin Air once the merger has gone through.
As part of the agreement, Jin Air is scheduled to assume Air Busan’s and Air Seoul’s assets, liabilities, rights, obligations, employees, and legal status. The merger ratio has been set at 1 share of Jin Air for every 0.75 shares of Air Seoul and 0.29 shares of Air Busan.
The new Jin Air is planned to take off on 17 March 2027. However, before the merger can go through, it has to be approved by shareholder votes in December, and it has to obtain regulatory approval.
Moreover, Hanjin will have to obtain an Air Operator Certificate for the new unified airline. This safety approval is necessary to be able to merge the three existing airlines into one and to unify the fleet. Jin Air is reportedly planning to integrate Air Busan’s and Air Seoul’s operations into its existing certificate in different stages, with manuals and personnel training already starting to be updated and shared across the three airlines. A safety inspection by South Korea’s Ministry of Land, Infrastructure, and Transport will be required for the merger to proceed.
“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. We will prioritise safety to complete a successful integration and grow into a leading low-cost carrier in Asia,” Jin Air said in a statement following the news.
Once the merger has gone through, 58 planes should be flying under the same Jin Air name. Flyers are expected to be able to benefit from more flights and easier connections, while enjoying one unified loyalty programme. At the time of writing, nothing has been shared concerning ticket prices and the impact of the planned merger on travellers who have already booked their tickets for a flight after 17 March 2027.
The budget airline merger is not the only one in the books for the Hanjin group. After Korean Air completed its acquisition of a majority stake in Asiana Airlines at the end of 2024, the merger is set to close on 17 December 2026. Originally, Jin Air was a part of Korean Air, while Air Busan and Air Seoul were Asiana subsidiaries. With Korean Air and Asiana becoming one single company, the merger of their low-cost subsidiaries was a logical next step in the process.
