Eastar Jet "Preconditions in Contract Completed... Jeju Air, Prompt Dialogue Requested"

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] Eastar Jet urged Jeju Air on the 16th to "promptly request talks to complete the contract" in response to Jeju Air's announcement that the conditions for contract termination were met due to Eastar Jet's failure to fulfill the preconditions for acquisition.

Eastar Jet stated in a text message sent to reporters on the same day, "The preconditions in the stock purchase agreement have been completed," affirming this position.

Jeju Air had announced earlier that morning that Eastar Jet had not completed the preconditions for acquisition, making it possible to notify contract termination. However, Jeju Air left open the possibility of deciding the final contract termination and timing at a later date.

Regarding this, Eastar Jet rebutted by saying that the resolution of unpaid amounts requested by Jeju Air is not a condition stipulated in the contract. Eastar Jet conveyed, "Although it is not an obligation under the contract, we are sincerely doing our best to resolve the unpaid amounts additionally requested by Jeju Air."