Korea’s Eastar Jet cuts fleet, staff ahead of hoped-for sale

Korea's Eastar Jet again takes delivery of B737 MAX 8

Eastar Jet (ESR, Seoul Gimpo) took delivery of a B737-8 from BOC Aviation, marking the type's return to operations with the LCC following its extended restructuring and suspension of operations.

"We had experienced the operational efficiency of Boeing 737-8 by operating it for the first time in South Korea. Starting with this Boeing 737-8, we will expand our routes and initiate substantial business expansion," Chief Operating Officer Sang-Jong Yoo said.

The lessor and the airline did not disclose the identity of the aircraft. The ch-aviation fleets advanced module shows that BOC Aviation owns thirty-two B737-8s, of which one - 2-FLKS (msn 62881), formerly placed with Flair Airlines - is currently without an operator. The lessor also has outstanding orders for 71 new B737-8s.

Eastar Jet currently operates just three B737-800s. The South Korean LCC suspended all flight operations in March 2020, when the COVID-19 pandemic started and subsequently lost its AOC. It has since undergone business restructuring, ownership change, and recertification, before finally restarting operations in March 2023...

Korea's Aero K eyes growth despite fleet delivery delays

New owner of Korea’s Eastar Jet secures $39mn mezzanine fund

Korea’s Supreme Court upholds gaol term for ex-Eastar boss

The Supreme Court of Korea has confirmed a six-year prison sentence for Lee Sang-jik, founder of Eastar Jet (ESR, Seoul Gimpo) and a former politician, convicting him of embezzlement of company funds and breach of trust and for causing billions more in losses at the once-beleaguered low-cost carrier.

Lee was arrested in April 2021 and accused of causing around KRW43 billion won (USD32.1 million) in losses to the airline by underselling shares in the company to a subsidiary owned by his children in 2015.

Separate charges accused him of embezzling KRW5.36 billion (USD4 million) from Easar Jet and its affiliates and using the cash for his or his family’s personal purposes. Prosecutors also said he was responsible for damages at Eastar-related companies amounting to some KRW5.6 billion (USD4.2 million) by arbitrarily raising or downgrading the value of bonds held by them, or by paying off their debts earlier than scheduled between 2016 and 2018.

In January 2022, he was found guilty and sentenced at Jeonju District Court in western South Korea to six...