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Eastar Jet seeks new buyer after failed deal

(Yonhap)
(Yonhap)
Low-cost carrier Eastar Jet is preparing for a new acquisition deal after talks with Jeju Air fell apart last month.

The airline has chosen accounting firm Deloitte Korea, corporate law firm Yulchon and Heungkuk Finance Group as its financial advisers, one official at the company confirmed Tuesday.

With the help of the three entities, the troubled airline is poised to continue its efforts to seek a new buyer to save itself from bankruptcy.

In late July, Jeju Air scrapped plans to purchase Eastar Jet following months of negotiations, leaving the latter’s future up in the air.

Chances of a new deal still remain scarce, however, as its troubled financial status means the airline might have a hard time renewing its air operator certificate -- a requirement for an airline to operate flights.

Without a deal, the airline could be forced to file for court receivership.

By Yim Hyun-su (hyunsu@heraldcorp.com)
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