South Korean low-cost carrier Jeju Air plans to launch an initial public offering in 2014.
The plan, however, is subjected to the condition that the airline must first achieve three consecutive years of profits, says an official.
The carrier, which has 81.7% of its shares owned by conglomerate Aekyung Group, has yet to determine the percentage of shares that will be made public or the likely share price.
Jeju Air reported an operating income of W13.9 billion ($12.5 million) in 2011 and a net profit of W16.8 billion.
The carrier, established by Aekyung Group and the Jeju provincial government, began operations in July 2008. Aekyung Group is a conglomerate that has businesses in various fields such as chemicals.
Flightglobal's Ascend Online database shows that Jeju Air operates 10 Boeing 737-800 aircraft.