Korean low-cost carrier Jeju Air has formally applied to the Korea Exchange for a long-awaited initial public offering of shares as it looks to fund its expansion to take advantage of rising tourism and trade between China and Korea.
Plans to take the airline public have circulated since 2013 but the process stalled in early 2015 as discussions took place with Singapore Airlines for an equity investment in the company.
Singapore’s flag carrier had planned to acquire a stake in Jeju Air to expand its foothold in north Asia, where tourism has blossomed, partly due to the political...
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