CEO Cho steps down

Jin Air Co

11/05/2018 02:38

** Jin Air Co Ltd  272450.KS  rises as much as 9.3 pct, a
record intraday percentage gain, after co-CEO Cho Yang-ho steps
down in the wake of recent allegations of bad behaviour by his
daughter.
    ** Cho, also chairman at parent Korean Air Lines
 003490.KS , stepped down after daughter Cho Hyun-min, provoked
public outrage for allegedly throwing water at an attendee of a
business meeting last month.  urn:newsml:reuters.com:*:nL3N1SH3NK
    ** Cho Hyun-min is the sister of Heather Cho who made
headlines in 2014 when she lost her temper over the way she was
served nuts on a Korean Air plane.
    ** The shares have regained ground they lost this week after
a media report that the transport ministry had discussed
cancelling the airline's licence due to the discovery that Cho
Hyun-min had been a registered board member despite being a U.S.
citizen.
    ** The budget airline had been sold off too much due to
concerns due the impact of the Cho family's actions despite Q1 
profit coming in above market expectations, said Shin Min-seok,
analyst at Cape Investment & Securities.
 

 ((Reuters Messaging: dahee.kim@thomsonreuters.com))