Jeju Air (7C, Jeju) says it is considering rebranding itself as AK Jeju Air ahead of a planned IPO on the South Korean bourse later this year.
Announcing a record profit of KRW32.3 billion (USD29.4 million) for the first half of 2015, the budget carrier said aligning its name more closely with that of parent, Aekyung Group (AK), may help increase the likelihood of a strong public debut.
Shareholders will vote on the name change during an extraordinary meeting next month.
Jeju Air plans to raise KRW200 billion (USD176 million) through the sale of a 20-30% stake in a move that will make it the first publicly-listed South Korean budget carrier.
Funds raised will be used to grow Jeju's Chinese business through improved direct marketing and sales starting in Beijing.
