Jeju Air to rebrand ahead of IPO
Wednesday, 07 Oct, 2015
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South Korean carrier Jeju Air plans to rebrand ahead of a initial public offering by the end of the year.
The airline will be renamed AK Jeju Air in reference to its parent company Aekyung Group.
It hopes to raise about KRW126.5 trillion ($107 million) in the IPO which will go toward funding capacity expansion, particularly focusing on the China market.
Chinese inbound tourism to Korea has taken a hit due to this summer’s MERS outbreak.
Singapore Airlines pulled out of talks to invest in Jeju Air earlier this year.
The airline has a fleet of Boeing 737 aircraft serving 18 international destinations and is adding new services to Da Nang, Vietnam and Okinawa and Osaka, Japan this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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