Jin Air IPO takes flight

South Korean budget airline applies to list on the stock market as a host of competitors take to the skies.

South Korean budget airline Jin Air has applied for a domestic initial public offering, joining a growing list of low-cost carriers LCCs in Korea and across the wider region, which are tapping the equity capital markets for fresh capital.

The country’s second-largest LCC by market share is targeting a market valuation around the W1 trillion $892 million mark according to sources familiar with the situation. The IPO could net about $250 million to $350 million assuming a 30% to 40% stake sale by parent Hanjin KAL.

Jin Air’s proposed IPO will mark Asia’s fourth LCC listing over the past two years. The flotation of South...

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