SEOUL, April 22 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest budget carrier by sales, said Thursday it will resume flights to Saipan late next month in a preemptive measure to absorb post-coronavirus travel demand. Jeju Air plans to reopen the Incheon-Saipan route on May 28 upon permission from the Ministry of Land, Infrastructure [...]
SEOUL, Nov. 5 (Korea Bizwire) — Jeju Air Co., South Korea’s top low-cost carrier, is expected to receive some 190 billion won (US$169 million) in state financial support, as the company seeks to overcome a pandemic-caused cash crunch, sources said Thursday. The main creditor, the Export-Import Bank of Korea, has conducted due diligence on Jeju [...]
SEOUL, Oct. 22 (Korea Bizwire) – Jeju Air Co., South Korea’s biggest low-cost carrier, said Thursday it will carry cargo using a passenger jet to offset a sharp decline in air travel demand amid the coronavirus pandemic. Jeju Air plans to deploy a B737-800 passenger jet to deliver cargo from Incheon to Bangkok from late [...]
SEOUL, Sept. 11 (Korea Bizwire) — The prolonged impact of the new coronavirus on the airline industry has derailed two major deals in the aviation sector here, triggering concerns of massive layoffs and the overhaul of the country’s airline industry amid worsening business conditions. On Friday, Kumho Industrial Co., which owns Asiana Airlines Inc. notified [...]
SEOUL, July 23 (Korea Bizwire) — Debt-ridden Eastar Jet Co. may face bankruptcy after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the new coronavirus’ impact on the airline industry, sources said Thursday. Jeju Air, South Korea’s biggest low-cost carrier, said earlier in the day that it has decided to [...]
SEOUL, June 29 (Korea Bizwire) — Eastar Jet Co. said Monday its founding family members will donate their stake in Eastar in a move to bring Jeju Air Co.’s stalled takeover of the smaller budget carrier back on track amid concerns over potential rupture. Rep. Lee Sang-jik of the ruling Democratic Party, Eastar Jet’s founder, [...]
SEOUL, June 26 (Korea Bizwire) – Jeju Air Co.’s planned takeover of smaller local rival Eastar Jet Co. could be delayed further due to differences over acquisition terms between the two sides amid the new coronavirus outbreak, industry sources said Friday. In March, Jeju Air signed a deal to acquire a controlling 51.17 percent stake [...]
SEOUL, June 22 (Korea Bizwire) — Jeju Air Co., South Korea’s leading low-cost carrier, has been at odds with Eastar Jet Co. over Eastar’s demand for the shouldering of some of its overdue wage payments, industry officials said Monday, a move that could act as a possible deal breaker. The dispute comes seven days before [...]
SEOUL, May 21 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Thursday it will raise 170 billion won (US$138 million) by selling stocks as part of self-help measures amid the new coronavirus impact on the airline sector. The rights issue is one of the options that Jeju Air has reviewed to [...]
SEOUL, May 14 (Korea Bizwire) — With the number new confirmed cases of the novel coronavirus linked to clubs in Seoul’s Itaewon neighborhood growing by the day, the aviation industry has decided to strengthen its contactless services. Jeju Air Co., South Korea’s biggest low-cost carrier, said it will introduce contact-free services, such as self-bar code [...]