News / Air Incheon trademark application fuels talk of rebranding as AirZeta

The new logo

South Korean cargo airline Air Incheon, which has acquired Asiana Airlines’ freight business, has made a trademark application for ‘AirZeta’, fuelling speculation that integrated operations could be launched this Friday under a new brand.

Air Incheon made the application with the Korea Intellectual Property Office on 9 July.

It covers 10 types of goods and services, including international air cargo transport, transport services for tourists, warehousing and cargo storage.

No official announcements have been made by Air Incheon, but The Loadstar’s enquiries with company sources showed a rebranding was being considered to raise the airline’s international profile.

No applications to the US DoT have been made under the new name as yet.

At its government’s behest, Asiana hived off its cargo business, including 11 freighters, to satisfy anti-trust authorities after the struggling airline was sold to Korean Air Lines.

Local media reports claimed that “Glossia” was suggested as a possible brand name, to reflect Hyundai Glovis’s involvement in Air Incheon.

Glovis, Hyundai Motor’s logistics arm, invested $145m for a 45% stake in a fund established by Air Incheon’s major shareholder, Socius Private Equity, to acquire Asiana’s cargo business.

However, Glovis’ management is said to have objected to any hints that it has influence over Air Incheon operations, as it has no management rights over the airline. But Glovis is understood to have stipulated that it be given first consideration as a buyer should Socius cash out its stake in Air Incheon.

Air Incheon has been recapitalised to KRW 820bn ($593m), including KRW 470bn ($340m) to acquire Asiana’s cargo business. The rest of the funds will be use to construct IT systems, replace old aircraft, and cover post-merger integration costs.