Five Additional Aircraft to Be Introduced in the Second Half of the Year
On June 12, Eastar Jet announced that it will improve its financial structure through a large-scale paid-in capital increase and strengthen its foundation for future growth by expanding investments in new aircraft acquisitions and aviation safety.
Eastar Jet plans to complete a paid-in capital increase of 60 billion KRW this month. The funds will be used for expansion investments, including the introduction of new B737-8 aircraft to be phased in starting in the second half of this year, as well as for aviation safety investments such as the establishment of an integrated maintenance center and improvements to the crew training system. The company intends to introduce only new aircraft, not used ones, thereby maintaining the lowest average fleet age among domestic low-cost carriers.
Currently, five of Eastar Jet's aircraft, accounting for one-third of its fleet, are next-generation eco-friendly B737-8 models. This type offers approximately 15% better fuel efficiency compared to the previous generation B737-800, resulting in both fuel cost savings and reduced carbon emissions.
Eastar Jet plans to introduce five additional B737-8 aircraft by the end of the year, aiming to maximize cost competitiveness through reductions in fuel and maintenance expenses.
Since VIG Partners acquired 100% of Eastar Jet’s shares in 2023, the company has aggressively expanded its fleet and increased its market share, leveraging both financial support and operational expertise from the past.
An Eastar Jet representative stated, "By securing financial stability through this large-scale paid-in capital increase, we will focus on acquiring new aircraft and investing in aviation safety." The representative added, "In the second half of the year, we plan to strengthen profitability by securing routes expected to be transferred following the launch of the integrated airline."
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