Unified Jin Air Completes Overseas Merger Approval Process

[Financial News] Reviews by foreign competition authorities of unified Jin Air, which is set to launch next March, have been completed. Only domestic procedures remain.
Jin Air said on the 7th that it received final approval for the business combination from the Vietnam Competition Commission on the 2nd. The approval came a month after it submitted a business combination notification to the commission under the August 21 merger agreement among the three low-cost carriers (LCCs)—Jin Air, Air Seoul and Air Busan.
With reviews by foreign competition authorities completed, only domestic procedures remain: approval of the business combination by the Fair Trade Commission and approval of the merger by the Ministry of Land, Infrastructure and Transport. Jin Air has been making proactive investments in preparation for the launch of the combined company on March 17 next year. Key examples include investing 22 billion won to expand training infrastructure, including flight simulators (FFS), and introducing its first Airbus model, the A321ceo.
“Reviews by foreign competition authorities have been completed, and practical preparations for integrating the three companies are proceeding without a hitch,” a Jin Air official said. “As soon as procedures with the relevant domestic authorities are completed, we will swiftly carry out the follow-up process and prepare for the successful launch of unified Jin Air next March.”

[email protected] Kim Yun-ho Reporter