Jeju Air Co Ltd announced today it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced according to Reuters.
Read the full story on Reuters.
Jeju Air aircraft photo gallery:
Eastar Jet aircraft photo gallery:
Jeju Air Company Ltd has signed a letter of intent (LOI) to acquire a 51% stake in the Eastar Jet Company for around 69.5 billion won ($58.9 million).
Jeju Air route map:
Easter Jet route map:
Boeing has delivered the first 737 MAX (HL8340) for Eastar Jet, making it the first airline in Korea to operate the more fuel-efficient and longer-range version of the popular 737 jet.
Eastar Jet 737 MAX 8 Flyaway – December 19, 2018
Above Photo: Boeing.
Eastar Jet will take delivery of another 737 MAX 8 airplane later this month, which will join the airline’s existing fleet of Next-Generation 737s.
The MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, and other airframe enhancements to improve performance and reduce operating costs. In Eastar Jet configuration, the MAX 8 will be able to fly more that 3,100 nautical miles (5,740 kilometers) – 500 nautical miles farther than the previous 737 models – while providing 14 percent better fuel efficiency.
In addition to modernizing its fleet, Eastar Jet will use Boeing Global Services to enhance its operations. These services include Maintenance Performance Toolbox, which delivers real-time access to information technicians need to quickly resolve emergent airplane maintenance issues and keep airlines on schedule.
Based at Gimpo/Incheon International Airport in Seoul, Korea, Eastar Jet launched operations in 2007 with Next-Generation 737s. Since then, Korea’s low-cost carrier (LCC) market has grown significantly and has become the largest LCC market in Northeast Asia. Over the past five years, the market segment has grown more than 30 percent annually. Based on this growth and the introduction of the 737 MAX 8 to its fleet, Eastar Jet will be able to expand into new markets such as Singapore and Kuala Lumpur among other future destinations.
Eastar Jet (EastarJet.com) (Seoul) will start twice-daily Seoul (Incheon)-Osaka (Kansai) low-fare flights on March 30 per Airline Route.
Copyright Photo: Pedro Pics. Please click on the photo for additional information about this carrier.
Eastar Jet Photo Gallery: CLICK HERE