Three South Korean Carriers Merge to Form Low-Cost Giant

South Korea's low-cost airline market is set for major consolidation as Jin Air, Air Busan, and Air Seoul agree to merge into a single carrier under the Jin Air name, creating the country's largest budget airline with 58 aircraft. The combined airline is due to begin operations on March 17, 2027, subject to shareholder and regulatory approvals. The deal is a downstream effect of Korean Air's takeover of Asiana Airlines, aiming to drive efficiency by combining fleets, technology platforms, and corporate structures rather than adding flights. The merger reshapes Korea's aviation hierarchy, leaving a dominant full-service flag carrier, a powerful low-cost affiliate, and a cluster of smaller in…