S.Korea's Jin Air says plans to list by year-end amid China tensions

South Korean budget airline Jin Air Tuesday said it has chosen Mirae Asset Daewoo Co Ltd to manage its IPO, and that it aims to complete the offering by the end of this year. The IPO comes as flag carriers feel the impact of political tension with China, which has pulled down the number of Chinese tourists. This has dimmed the outlook for South Korean airlines already bracing for rising competition from the low-cost rivals. Jin Air said it would use the planned listing on South Korea's main stock exchange to improve its financial health, fund investment for sustainable growth and for other purposes.The budget affiliate of the country's biggest carrier, Korean Air Lines, said it aims to increase market share by expanding its fleet to 30 jets and routes to 55 by 2018, from 22 and 36 respectively at present. <br/>