Jeju Air's Eastar Jet takeover faces growing uncertainty over unpaid wages, virus shock
Jun 26, 2020
Jeju Air Co.'s planned takeover of smaller local rival Eastar Jet Co. could be delayed further due to differences over acquisition terms between the two sides amid the new coronavirus outbreak, industry sources said Friday. In March, Jeju Air signed a deal to acquire a controlling 51.17 percent stake in Eastar Jet from its parent Eastar Holdings Inc. for 54.5 billion won ($45 million) as part of its expansion strategy despite the growing COVID-19 pandemic's impact on the airline industry. Ea