The Seoul Bankruptcy Court has given a green light to Sung Jung, a South Korean property developer, to acquire Eastar Jet — a struggling low-cost airline. The developer is trying to acquire an 80% stake in Eastar Jet for 108.7 billion South Korean wons ($97 million). Eastar Jet is expected…
The aviation industry in South Korea has seen a silver lining in spite of the country's fourth wave of coronavirus. AeroK, the brand-new Cheongju-based airline, will operate three flights each day between Cheongju to Jeju with its A320 starting on April 15. “Operation of our first scheduled flight had to…
With COVID-19 raging throughout the world, the aviation industry has experienced its longest battle in decades. In South Korea, mergers and acquisitions have halted since the pandemic began, a development that has proven particularly impactful for the aviation industry and those looking to take part in it. HDC Hyundai Development…
With the coronavirus pandemic raging through the world, the aviation industry is facing unprecedented times. South Korea, one of the hotspot outside China in Asia, could experience a nightmare scenario. The Korea Civil Aviation Association (KCA) demanded the government offer a bailout package to airlines amid the unparalleled crisis. KCA…
Eastar Jet has become the first carrier in South Korea to take delivery of the Boeing 737 MAX 8 jet. Boeing delivered the fuel-efficient and longer-range jet Thursday and will deliver another one of the aircraft later this month. The aircraft joins the low-cost carrier’s existing fleet of Next-Generation 737s…
