Jin Air’s Stock Sinks after a Legal Blow‑up Over Board Compliance
What Went Down?
The budget carrier Jin Air is feeling the heat as its shares nosedived about 9 % to a six‑week low. Why? A South Korean TV station KBS spilled the beans that the Transport Ministry is mulling over revoking the airline’s licence.
Last week, officials learned that Cho Hyun‑min, daughter of Jin Air’s parent company owner, Hanjin Group, was secretly on the airline’s board—a blatant violation of South Korean transport law, especially since she holds U.S. citizenship. The discovery turned a corporate oversight into a legal storm.
Extra Chaos: The ‘Water‑Splash’ Incident
- Cho’s business mishap: She allegedly hurled water on a meeting attendee, sparking an assault investigation.
- Her sister Heather Cho isn’t new to drama—she famously threw a fit over served nuts on a Korean Air flight back in 2014.
- Both sisters have stepped aside from all positions at Jin Air and its sister airline, Korean Air.
Reactions & Accountability
The ministry’s tweets were silence—no official comment could be secured. The airline’s spokesperson said the company is “full‑speed” cooperating with the investigation and chose to keep matters under wraps.
Market Fallout
As of 01:14 GMT, Jin Air’s shares dropped 3.9 %, while the broader market held steady. Investors are buzzing, and the airline’s future is hanging in a pending‑licence balance.
