Jin Air drops on report S.Korea mulls carrier's licence cancellation

Jin Air Co

22/06/2018 01:53

** Shares of South Korea's budget carrier Jin Air Co Ltd
 272450.KS , a budget affiliate of Korean Air Lines Co Ltd
 003490.KS , drop as much as 7.6 pct, their lowest since Dec 22,
2017 
    ** Shares drop after a local newspaper report states that
the South Korean government is considering to suspend the
airline's licence over the board appointment of a non-Korean
member of its controlling family
    ** Just hours after the report, South Korea's Ministry of
Land, Infrastructure and Transport said the report is incorrect
and no such decision has been taken
    ** Jin Air did not immediately respond to Reuters' requests
for comment 
    ** Emily Cho, daughter of the airline's chairman who holds a
U.S. citizenship, stepped down as an executive at Korean Air and
Jin Air over an outburst at a business meeting that prompted
public outcry  urn:newsml:reuters.com:*:nL3N1SG14V
    ** South Korea's aviation business licence does not allow
the appointment of foreign national
 

 (Reporting by Heekyong Yang)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 3704 5647; Reuters
Messaging: heekyong.yang.thomsonreuters.com@reuters.net))