December 18, 2019 / 3:52 AM / a month ago

S.Korea's Jeju Air to buy 51% stake in Eastar Jet

SEOUL, Dec 18 (Reuters) - South Korea’s AK Holdings Inc said on Wednesday its budget airline unit Jeju Air Co Ltd signed an MoU to buy a 51% stake in unlisted low-cost carrier Eastar Jet Co Ltd for about 69.5 billion won ($58.93 million).

Jeju Air said in a statement it expected to acquire newly issued shares by Eastar Jet, and to sign a final deal by the end of this year. ($1 = 1,179.3300 won) (Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)

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