The breakout of coronavirus has resulted in a lot of canceled flights and in turn, a significant amount of lost revenues. Despite an even more difficult operating environment in South Korea, two airlines in the country are consolidating as Jeju Air purchased a majority equity in Eastar Jet....
Jeju Airlines (also known as Jeju Air), South Korea’s largest budget carrier, is planning to acquire a 51% stake in its competitor, another South Korean low cost carrier Eastar Jet, signaling strains in the country’s already crowded budget carrier market....
South Korea’s two largest carriers with, lately, not so shiny of a reputation, may now be joining forces. Activist fund KCGI, the no. 2 shareholder in parent company of national carrier Korean Air Lines, is reportedly considering taking over rival Asiana Airlines, local media sources indicate....
