Three South Korean Carriers Are Merging Into One Low-Cost Giant

South Korea's low-cost airline market is about to undergo a major reshuffle. Jin Air, Air Busan and Air Seoul have agreed to merge into a single carrier under the Jin Air name, creating what will be the country's largest low-cost airline by fleet size. The combined budget airline is due to begin operating on March 17, 2027, subject to shareholder and regulatory approvals. The boards of all three airlines approved the deal and signed the merger agreement on Friday, according to the Korea Herald. When completed, the new Jin Air will have 58 aircraft, bringing together three airlines that currently have distinct networks, operating bases and customer propositions. The deal completes a domino effect that has been building since Hanjin Group's Korean Air took majority control of Asiana Airlines in December 2024, a transaction Skift has covered in detail. The formal merger of the parent companies is due to take effect on December 17, bringi