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Order HereKorean low-cost carrier (LCC) Jeju Air will rebrand its operations prior to launching an initial public offering (IPO) by year end. It plans to issue 5.5 million shares on the Korea Exchange to raise at least KRW126.5 trillion ($107 million). The carrier said the money will be used to add cash reserves to help it capitalize on the rising numbers of Chinese tourists visiting Korea.
Launching an IPO has been on the table since 2013.
The carrier had been in talks with Singapore Airlines (SIA) earlier this year for a stake in the Korean LCC. However, earlier this month SIA decided not to go ahead with the equity deal, prompting a reassessment of the IPO option.
After the airline’s rebranding, it will be renamed AK Jeju Air, emphasizing the carrier’s relationship to its parent company, Aekyung Group.
The new branding—which will be applied to aircraft, facilities and all consumer touchpoints—is designed to reflect the character of Jeju Island where the carrier has its base.
Preliminary approval for the IPO has been given, although reports indicate the Jeju Special Self-Governing Province, which owns 4.54% minority stake in the airline, is not a key supporter of the move.
Jeju Air has a 20-strong fleet of Boeing 737 aircraft, flying to 18 international destinations in nine countries, as well as six domestic destinations in Korea. It plans to add new services to Okinawa, Da Nang, Vietnam and Osaka, Japan before the end of 2015.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereKorean low-cost carrier (LCC) Jeju Air will rebrand its operations prior to launching an initial public offering (IPO) by year end. It plans to issue 5.5 million shares on the Korea Exchange to raise at least KRW126.5 trillion ($107 million). The carrier said the money will be used to add cash reserves to help it capitalize on the rising numbers of Chinese tourists visiting Korea.
Launching an IPO has been on the table since 2013.
The carrier had been in talks with Singapore Airlines (SIA) earlier this year for a stake in the Korean LCC. However, earlier this month SIA decided not to go ahead with the equity deal, prompting a reassessment of the IPO option.
After the airline’s rebranding, it will be renamed AK Jeju Air, emphasizing the carrier’s relationship to its parent company, Aekyung Group.
The new branding—which will be applied to aircraft, facilities and all consumer touchpoints—is designed to reflect the character of Jeju Island where the carrier has its base.
Preliminary approval for the IPO has been given, although reports indicate the Jeju Special Self-Governing Province, which owns 4.54% minority stake in the airline, is not a key supporter of the move.
Jeju Air has a 20-strong fleet of Boeing 737 aircraft, flying to 18 international destinations in nine countries, as well as six domestic destinations in Korea. It plans to add new services to Okinawa, Da Nang, Vietnam and Osaka, Japan before the end of 2015.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereKorean low-cost carrier (LCC) Jeju Air will rebrand its operations prior to launching an initial public offering (IPO) by year end. It plans to issue 5.5 million shares on the Korea Exchange to raise at least KRW126.5 trillion ($107 million). The carrier said the money will be used to add cash reserves to help it capitalize on the rising numbers of Chinese tourists visiting Korea.
Launching an IPO has been on the table since 2013.
The carrier had been in talks with Singapore Airlines (SIA) earlier this year for a stake in the Korean LCC. However, earlier this month SIA decided not to go ahead with the equity deal, prompting a reassessment of the IPO option.
After the airline’s rebranding, it will be renamed AK Jeju Air, emphasizing the carrier’s relationship to its parent company, Aekyung Group.
The new branding—which will be applied to aircraft, facilities and all consumer touchpoints—is designed to reflect the character of Jeju Island where the carrier has its base.
Preliminary approval for the IPO has been given, although reports indicate the Jeju Special Self-Governing Province, which owns 4.54% minority stake in the airline, is not a key supporter of the move.
Jeju Air has a 20-strong fleet of Boeing 737 aircraft, flying to 18 international destinations in nine countries, as well as six domestic destinations in Korea. It plans to add new services to Okinawa, Da Nang, Vietnam and Osaka, Japan before the end of 2015.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.