Established in 2007, Eastar Jet is a low cost airline based in Seoul, South Korea. The carrier operates to destinations within South Korea as well as international destinations in Asia from Eastar hubs, Seoul and Cheongju. Gimpo International Airport is the carrier's main base.
Eastar Jet temporarily suspended all domestic services from 24-Mar-2020, after suspending all international services in early Mar-2020 due to the coronavirus pandemic, becoming the first Korean airline to suspend all operations.
South Korea's Ministry of Land, Infrastructure and Transport suspended Eastar Jet's air operator's certificate on 23-May-2020, due to the LCC's suspension of operations for more than 60 days.
On 04-Feb-2021, Seoul Bankruptcy Court commenced corporate rehabilitation proceedings for Eastar Jet. Seoul Bankruptcy Court approved the corporate rehabilitation plan submitted by Eastar Jet on 17-Sep-2021. Eastar Jet applied to South Korea MOLIT to secure the reinstatement of its AOC in Dec-2021. Seoul Bankruptcy Court approved an application by Eastar Jet to terminate its corporate rehabilitation procedures on 22-Mar-2022.
South Korean private equity fund VIG Partners signed a contract to acquire a 100% stake in Eastar Jet from Sung Jung Corporation for USD78.6 million in Jan-2023. VIG Partners completed its acquisition of a 100% stake in Eastar Jet from Sung Jung Corporation for USD78.6 million on 30-Jan-2023.
South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) reinstated Eastar Jet's air operator's certificate, following the completion of safety inspections on 28-Feb-2023. The airline resumed operating domestic services from 26-Mar-2023, commencing with Seoul Gimpo-Jeju service.
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