Eastar Jet to seek new buyers for 51% stake

19 August, 2020

Eastar Jet SVP Kim You-sang stated the airline appointed Deloitte Anjin, Yulchon and Heungkuk Securities as lead managers to arrange the sale of a 51.17% stake in the airline (Yonhap, 18-Aug-2020). Mr Kim said Eastar is in discussions with two private equity funds to sell the majority stake before the carrier is "placed under court receivership". Mr Kim also commented: "There is no progress in resolving the dispute with JEJU air". As previously reported by CAPA, in late Jul-2020 JEJU air suspended plans to acquire a 51.17% state in Eastar Jet.