Jeju Air (7C, Jeju) has announced plans to sell its entire stake in IT subsidiary AK IS to its parent company, AK Holdings, for KRW43.3 billion won (USD29.7 million) to improve its financial structure.
According to a stock exchange filing on February 10, the low-cost carrier will dispose of 7.8 million shares in AK IS at a price of KRW5,550 (USD3.8) per share. The transaction is scheduled to take place on April 10, 2026.
Jeju Air stated that the purpose of the disposal is to "secure liquidity" and improve its financial standing. Following the transaction, the airline will hold zero shares in the unlisted IT affiliate, which provides system construction and consulting services for the Aekyung Group, a conglomerate which includes AK Holdings as the management firm.
The divestment comes as Jeju Air faces ongoing financial challenges. In a provisional business performance report for 2025, the airline posted a consolidated net loss of KRW143.6 billion (USD98.4 million), a reversal from a net profit of KRW21.7 billion (USD14.9 million) in the previous year. Operating result swung to a loss of KRW110.9 billion (USD76 million), while annual revenues declined 18.4% to KRW1.6 trillion (USD1.1 billion).
The carrier's total liabilities increased to KRW2.1 trillion (USD1.4 billion) at the end of 2025, up 23.9% from KRW1.7 trillion (USD1.1 billion) the prior year.
Meanwhile, Aekyung Group is currently pursuing the sale of non-core assets, including the Termeden water park, to concentrate resources on key affiliates such as Jeju Air and Aekyung Chemical. AK Holdings previously sold its stake in Aekyung Industrial in late 2025 to raise funds for the group's core aviation and chemical businesses.
