Korea's Jeju Air inks UAV agreement with Daewoo

AIP Capital takes 10% stake in Korea's Eastar Jet

Aviation asset management and investment firm AIP Capital has taken a stake in Eastar Jet (ZE, Seoul Gimpo) in a limited partnership deal with VIG Partners, the South Korean private equity entity that acquired 100% of the low-cost carrier earlier this year. The dollar value of the transaction, announced on September 5, was not disclosed. However, an AIP spokesperson told ch-aviation they had secured a 10% stake.

As part of the deal, AIP will place five B737-8s at Eastar Jet. Two of those planes, HL8542 (msn 44304) and HL8543 (msn 44305) arrived at Eastar Jet in August, while the third, N798BA (msn 44308), will be delivered to the airline in September, with the final two in the third quarter of 2024. 777 Partners owns AIP Capital. It also recently acquired a 30% stake in Dreamstone Aviation Partners, a subsidiary of Dreamstone Partners, to expand its business in the Asia Pacific region. Founded earlier this year, AIP Capital says it has USD10 billion of capital deployed across debt and equity in the aviation...

NPS Korea increases stake in Korean Air

EC delays Korean Air / Asiana merger decision

Korean Air (KE, Seoul Incheon) has requested a time extension to address European Commission (EC) concerns about its proposed merger with Asiana Airlines (OZ, Seoul Incheon). At the same time, details have emerged of the concessions Korean Air made to Chinese authorities in order to get their approval for the merger.

Korean Air has confirmed that it asked for the extension deadline to "render comprehensive remedies that can address the EC's concerns." The EC's website acknowledges receipt and granting of the request. "The company will do its best to come up with measures that can address their antitrust concerns and finalize the discussions within the new deadline,” reads a statement on the matter from the airline. Neither party has said how long the extension is for, but Seoul-based media suggests it is for another two months. A Korean Air spokesperson would not confirm this timeline to ch-aviation, instead saying that the airline will submit a remedy package and finalise negotiations within the new timeline.

The EC was due to hand down its merger...

Korea’s Jeju Air improves cashflow, pays off high-cost debt