Hanjin Group, the parent company of the nation’s largest air carrier Korean Air, appears to be speeding up a generational shift in its leadership by appointing the chairman’s only son as the new chief of the group’s budget flight operator.

Jin Air, a low-cost carrier owned by Korean Air, said Tuesday afternoon that it has named Cho Won-tae, son of the group’s chief Cho Yang-ho as its new president. Cho will jointly manage Jin Air with Choi Jung-ho, the incumbent CEO of the air carrier, who will maintain his post, the company said.

The announcement came only three months after Cho was named vice chairman of Korean Air, taking the leadership role in the group’s largest business.

Cho taking top seats in Korean Air and Jin Air puts an end to the succession race, consolidating his position as the future owner of the group, according to market analysts.

The 41-year-old heir has stayed out of the public eye for years. But he recently emerged as a de facto heir after his sister’s disgraceful departure.

His elder sister Cho Hyun-ah, former vice president of Korean Air, stepped down from all executive positions after public criticism over the “nut rage” incident in late 2014.

Hyun-ah forced a Korean Air flight departing from New York back to the gate out of her anger over macadamia nuts served in a bag, rather than a plate, after physically abusing the crew. The Seoul High Court sentenced her to 10 months in prison suspended for two years.

“It appears to be the right time for him to take the leadership role,” a Korean Air official said, denying the market speculation that his promotion is designed to freshen up the group’s negative image over the nut rage case.

Placing the Hanjin Group heir in the top position of Jin Air also reflects the group’s drive to expand its low-cost flight business, other watchers suggested.

Jin Air, the second largest budget carrier, has been enjoying rapid growth in sales in recent years. Its revenue last year surged 31.3 percent to 461.2 billion won ($403 million), with an operating profit of 29.6 billion won, a 76.2 percent increase on-year. With the market demand for cheap tickets growing, not only Jin Air but other low-cost carriers are also reportedly planning to deploy more flights and diversify international routes this year.

Insiders expect that Cho’s leadership in Jin Air and Korean Air will generate a synergy effect between the two, and mediate conflicts of interests such as both airlines operating the same routes.

Cho studied business at Inha University and earned a master’s degree in business from University of Southern California. He joined Hanjin Group in 2003 as a sales manager in charge of the group’s information technology unit. He currently serves as president of the group’s five affiliates.

By Cho Chung-un (christory@heraldcorp.com)