Established in 2007, Eastar Jet is a low cost airline based in Seoul, South Korea. The carrier operated 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. In Mar-2020, JEJU air signed an agreement with Eastar Holdings to acquire a 51.17% stake in Eastar Jet for KRW54.5 billion (USD46 million). On 23-Jul-2020, JEJU air suspended plans to acquire a 51.17% stake in Eastar Jet.
On 20-Mar-2020, Eastar Jet announced plans to temporarily suspend 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 (MOLIT) suspended Eastar Jet's air operator's certificate (AOC) 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. The LCC was required to submit a corporate rehabilitation plan to the Court by 20-May-2021. Seoul Bankruptcy Court extended the deadline for Eastar Jet to submit a corporate rehabilitation plan to the Court until 20-Jul-2021.
Seoul Bankruptcy Court approved the corporate rehabilitation plan submitted by Eastar Jet on 17-Sep-2021. The LCC aims to secure the reinstatement of its AOC by the end of Jan-2022 and resume domestic services in Feb-2022.
Eastar Jet applied to South Korea MOLIT to secure the reinstatement of its AOC in Dec-2021, with the aim of resuming domestic services in early 2022.
In Feb-2022, Eastar Jet president and CEO Kim You-sang said the LCC expects South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) to approve the reinstatement of its AOC in Mar-2022.
Eastar Jet applied to Seoul Bankruptcy Court for approval to terminate corporate rehabilitation procedures in Mar-2022. Seoul Bankruptcy Court (SBC) approved an application by Eastar Jet to terminate its corporate rehabilitation procedures on 22-Mar-2022.
CAPA Profiles help you identify new business opportunities and make better business decisions, by providing accurate and up-to-date data on airports, airlines, suppliers, investors, MROs, lessors and countries/territories around the world. Each profile offers comprehensive news and analysis, as well as the ability to drill down into data on schedules, capacity share, fleet, traffic, financial results and more.Become a CAPA Member
Our full profiles are only available to CAPA Members. CAPA Membership provides exclusive access to the information you need to monitor the competitive landscape and guide your organisation towards success.
It’s ideal for industry analysts, managers and executives who need a snapshot of the latest news, analysis and data from our global team, with the ability to export or email PDF reports in one click.
- 5000+ airports
- 3000+ airlines
- 1600+ suppliers
- 800+ airport investors
- 250+ countries/territories and regions
- And more
CAPA Membership also gives you access to a customised selection of more than 1,000 global News Briefs every week, as well as a comprehensive Data Centre, Analysis Reports and Research Publications. You can also choose from our range of premium add-ons, including Route Maps, Fleet Data and more.