South Korean cargo carrier Sirius Airlines is making a renewed attempt to secure an air operator certificate (AOC) after a change in ownership.
The start-up, which has faced financial difficulties since its inception, is seeking regulatory approval once again following a shake-up in its shareholder structure.
Private equity firm Aureum has emerged as the largest shareholder, replacing former CEO Kwon Do-gyun.
Sirius Airlines has yet to launch operations but aims to tap into growing regional and international air cargo demand.
Industry observers say fresh investment could help stabilise the company’s finances and improve its chances of finally securing an AOC from South Korea’s Ministry of Land, Infrastructure and Transport.
If successful, Sirius would join a competitive but expanding Asian cargo market, where rising e-commerce volumes and regional trade continue to fuel demand for dedicated freighter capacity.