S.Korea's Jin Air surges amid hopes of ban removal

Jin Air Co

11/09/2019 03:46

** Shares of Jin Air  272450.KS , a budget affiliate of
Korean Air Lines  003490.KS , surge as much as 10.6% after the
co requested that sanctions be lifted
    ** Co has been restricted from registering new aircraft and
ruled out of the competition to launch more routes  urn:newsml:reuters.com:*:nL4N1V8165
    ** Jin Air has submitted a report about its efforts to abide
by aviation law and improve management culture - co statement 
    ** The country's No.2 budget carrier managed to keep its
licence intact after a regulatory review over the board
membership of the co's late chairman's daughter Emily Cho, but
it was restricted from registering new aircraft and routes
    ** Cho was in the spotlight after reports of an angry
tantrum last year - held U.S. citizenship while serving as board
director in violation of South Korean law
    ** Expectations of the removal of the restrictions have
grown, says Lee Han-joon, analyst for KTB Investment &
Securities
    ** Markets see the co's bid signals possibility of sanctions
lifting - Kim Ik-sang, analyst, BNK Securities
    ** The broader KOSPI market  .KS11  was trading up 0.5%

 ((Hayoung.Choi@thomsonreuters.com; +82 2 6936 1468))