Eastar Jet Explained

Airline:Eastar Jet
Fleet Size:14
Destinations:12
Iata:ZE
Icao:ESR
Callsign:EASTAR
Parent:
  • Eastar Jet Group
    (2007–2021)
  • Sung Jung Co., Ltd
    (2021–2022)
  • VIG Partners
    (2023–present)
Headquarters:Gangseo-gu, Seoul
Hubs:
Alliance:U-FLY Alliance
Hangul:이스타항공
Hanja:이스타
Rr:Iseuta Hanggong
Mr:Isŭt'a Hanggong

Eastar Jet (ESR;) is a South Korean low-cost airline with its headquarters in Banghwa-dong, Gangseo-gu, Seoul.[1] On January 7, 2009, Eastar Jet made its maiden flight from Gimpo International Airport to Jeju International Airport. Now, the airline operates a scheduled passenger network to 14 destinations in eight countries. Its main base is Gimpo International Airport, with a hub at Jeju International Airport.[2]

Eastar Jet carried 3 million domestic passengers and 2.9 million international passengers in 2018. Its international traffic has doubled over the past three years and its domestic traffic has grown by nearly 50%, indicating a stronger focus on domestic growth while the other Korean low-cost carriers are focusing on the international market.[3]

History

Eastar Jet was established on October 26, 2007, and acquired its air operator's certificate the following year on August 6. On January 7, 2009, Eastar Jet launched its first commercial flight from Seoul to Jeju with a Boeing 737. It commenced operations on its second route - Cheongju-Jeju - on June 12, 2009. Six months later, on December 24, 2009, Eastar Jet launched its first international flight from Incheon to Kuching, Malaysia. Within two years of commencing operations, the airline reached the 1 million mark in passengers carried on January 6, 2010.

The airline joined the U-FLY Alliance on July 27, 2016; it is the fifth member of the alliance.[4]

On 2 March 2020, Jeju Air, one of the South Korean Low-Cost Carrier decided to take over the management rights of Eastar Jet and signed a stock trading contract and Jeju Air acquired 51.17% stake of Eastar Jet cost of 54.5 billion won.[5] and Jeju Air's M&A plan got approval from Fair Trade Commission of the Republic of Korea.[6] However, on 23 July 2020, Jeju Air announced that it was to give up the acquisition of Eastar Jet due to economic uncertainty caused by the COVID-19 pandemic.[7] [8]

In August 2020, Eastar Jet pushed forward to re-mergers and acquisitions and selected three companies.[9] Eastar Jet also began restructuring, the plan includes reduction of its fleet of 16 aircraft to 4 and reduce the labor force from 1,200 to 400, however, Jeju Air will rehire all of its dismissed staff.[10]

On June 17, 2021, it was announced that Eastar Jet is set to be acquired for more than US$97 million by property developer and preferred bidder Sung Jung, following an auction for the airline.[11] However, Sung Jung sells the entire stake of Eastar Jet to VIG Partners, private equity fund company in January 2023.[12]

Destinations

, Eastar Jet flies to the following destinations:[13]

CountryCityAirportNotesRefs
CambodiaSiem ReapSiem Reap International Airport[14]
ChinaDalianDalian Zhoushuizi International Airport
HaikouHaikou Meilan International Airport[15]
HarbinHarbin Taiping International Airport
JinanJinan Yaoqiang International Airport
NingboNingbo Lishe International Airport[16]
ShanghaiShanghai Pudong International Airport[17]
ShenyangShenyang Taoxian International Airport
YanjiYanji Chaoyangchuan International Airport
ZhangjiajieZhangjiajie Hehua International Airport[18]
ZhengzhouZhengzhou Xinzheng International Airport
Hong KongHong KongHong Kong International Airport
JapanFukuokaFukuoka Airport[19] [20]
IbarakiIbaraki Airport
KagoshimaKagoshima Airport
MiyazakiMiyazaki Airport[21]
NahaNaha Airport[22] [23]
OsakaKansai International Airport[24]
SapporoNew Chitose Airport[25]
TokyoHaneda Airport[26]
Narita International Airport
MacauMacauMacau International Airport[27]
MalaysiaKota KinabaluKota Kinabalu International Airport
Northern Mariana IslandsSaipanSaipan International Airport
PhilippinesPuerto PrincesaPuerto Princesa International Airport[28]
RussiaVladivostokVladivostok International Airport Seasonal[29]
SingaporeSingaporeChangi Airport Unscheduled[30]
South KoreaBusanGimhae International Airport
CheongjuCheongju International Airport[31]
GunsanGunsan Airport[32]
JejuJeju International Airport[33]
SeoulGimpo International Airport
Incheon International Airport
TaiwanHualienHualien Airport[34]
KaohsiungKaohsiung International Airport
TaipeiSongshan Airport[35]
Taoyuan International Airport[36] [37] [38]
ThailandBangkokSuvarnabhumi Airport[39]
Chiang MaiChiang Mai International Airport[40]
VietnamDa NangDa Nang International Airport[41]
HanoiNoi Bai International Airport[42] [43]
Nha TrangCam Ranh International Airport[44]
Phu QuocPhu Quoc International Airport[45]

Codeshare agreements

Eastar Jet codeshares with the following airlines:

Fleet

Current fleet

, Eastar Jet operates an all-Boeing 737 fleet composed of the following aircraft:[48] [49] [50] [51]

Eastar Jet fleet
AircraftIn ServiceOrdersPassengersNotes
Boeing 737-80010 - 189
Boeing 737 MAX 84 - 189Redeliveries from June 2023[52]
Total14 -

Retired fleet

Eastar Jet has previously operated the following aircraft types:[53]

Eastar Jet retired fleet
AircraftTotalIntroducedRetiredNotes
Boeing 737-600120082013
Boeing 737-700620092018
Boeing 737-8002020122020
Boeing 737-900ER220172020
Boeing 737 MAX 8220182021

See also

Notes and References

  1. Web site: Office addresses. Eastar Air Inc.. 24 February 2014. dead. https://web.archive.org/web/20140301020250/http://www.eastarjet.com/main/eastarjet.htm?method=location. 1 March 2014.
  2. News: Directory: World Airlines . . 97 . 2007-04-03.
  3. Web site: South Korea aviation market: a decade of rapid growth driven by LCCs . CAPA. 2 June 2019.
  4. News: 이스타항공, LCC 연합체 '유플라이 얼라이언스' 가입. Yonhap News Agency. ko. 28 July 2016.
  5. News: 제주항공, 이스타항공 인수 계약...545억 규모. YTN News. ko. 2 March 2020.
  6. News: 공정위, 제주항공 이스타항공 인수 승인. Yonhap News Agency. ko. 23 April 2020.
  7. News: 제주항공, 이스타항공 인수 포기 공식 발표. Korean Broadcasting System. ko. 23 July 2020.
  8. News: 공정위제주항공, 결국 이스타항공 인수 포기 "불확실성 너무 커". Seoul Broadcasting System. ko. 23 July 2020.
  9. News: 이스타항공, 재매각 속도…매각주간사 3곳 선정. EBN News. ko. 19 August 2020.
  10. News: '생존 본능'...이스타항공, '기재 6대·700명 이상 감원' 가닥. Asia Times. ko. 20 August 2020.
  11. News: 최 . 경애. 2021-06-17. Preliminary preferred bidder set to acquire Eastar: sources. 2021-06-17. Yonhap News Agency. en.
  12. News: 사모펀드 VIG, 이스타항공 인수…1천100억 투입 자본잠식 해소. Private Equity Fund VIG Acquires Eastar Jet...Eliminating 110 Billion-Input Capital Erosion. Korean. Yonhap News Agency. 30 January 2023.
  13. Web site: Flight route map. Eastar Jet.
  14. Web site: EastarJet to Resume Seoul – Siem Reap Service from Dec 2013. airlineroute. 13 November 2013.
  15. Web site: EastarJet adds new routes to China in Sep 2019. Routesonline. 15 August 2019.
  16. Web site: EastarJet Adds Cheongju – Ningbo Service from late-March 2016. airlineroute. 22 March 2016.
  17. News: 이스타항공, LCC 단독 인천-상하이 노선 재취항. Eastar Jet, resumes Incheon-Shanghai, first in Korea LCC. Sports Seoul. 20 March 2024.
  18. Web site: EASTARJET EXPANDS CHEONGJU INTERNATIONAL NETWORK FROM JULY 2024 . Aeroroutes . 11 June 2024.
  19. Web site: EastarJet Delays Fukuoka Launch to late-July 2016. routesonline. 26 May 2016.
  20. News: 이스타항공, 10월 29일 인천∼후쿠오카·나트랑 노선 취항. Eastar Jet, launches to Incheon~Fukuoka·Nha Trang route. Yonhap News Agency. Korean. 1 September 2023.
  21. Web site: EastarJet adds Miyazaki service from Dec 2017. routesonline. 17 November 2017.
  22. Web site: Eastarjet Adds Seoul - Okinawa Service from late-Oct 2015. Airlineroute.net. 22 September 2015. 22 September 2015.
  23. Web site: Eastarjet resumes Okinawa service from July 2024. AeroRoutes. 8 May 2024.
  24. News: '국제선 재개' 이스타항공, 9월 20일 도쿄·오사카 노선 취항. 'Resuming international route' Eastar Jet, launches Tokyo·Osaka in 20 September. Yonhap News Agency. 18 July 2023. Korean.
  25. Web site: Eastarjet adds Seoul - Sapporo service from July 2024. AeroRoutes. 25 April 2024.
  26. Web site: EastarJet adds Seoul Incheon – Tokyo Haneda in Sep/Oct 2018. Routesonline. 20 August 2018.
  27. Web site: Eastar Jet adds Macau service from Nov 2019. Routesonline. 16 October 2019.
  28. Web site: EastarJet adds Puerto Princesa service from late-Oct 2018. airlineroute. 23 October 2018.
  29. Web site: EastarJet adds Vladivostok service from June 2018.
  30. Web site: [International Flight] Notice on New Flights for Busan-Singapore Route (PUS-SIN) ]. www.eastarjet.com . 24 December 2018.
  31. News: 이스타항공, 8월부터 청주-제주 노선 운항 재개. Eastar Jet, resumes Cheongju-Jeju route in August. Ko. NBN. 15 June 2023.
  32. News: 이스타항공, 내달 군산∼제주 노선 신규 취항. Eastar Jet, launches Gunsan~Jeju route in next month. Yonhap News Agency. 6 September 2023. Korean.
  33. News: Eastar to resume flights this month for turnaround. Yonhap News Agency. 14 March 2023.
  34. Web site: EastarJet adds Hualien service in W19. Routesonline. 17 October 2019.
  35. Web site: EastarJet 3Q23 Network Additions . Aeroroutes . 30 June 2023.
  36. Web site: EastarJet Adds Seoul Incheon - Taipei Taoyuan Service from late-March 2016. Airlineroute.net. 30 January 2016. 30 January 2016.
  37. News: 이스타항공, 12월부터 지방발 국제선 재개. Eastar Jet, re launching international route from regional from December. ChosunBiz. 27 September 2023. Korean.
  38. News: 이스타항공, 내달 20일 인천∼대만 타오위안 노선 운항 재개. Eastar Jet, re-launching Incheon~Taiwan's Taoyuan route from 20th in next month. Yonhap News Agency. 5 October 2023. Korean.
  39. News: '이스타항공, 9월 20일부터 방콕·다낭 노선 취항. 'Eastar Jet', launching Bangkok·Da Nang route ionn 20 September. Yonhap News Agency. 20 July 2023. Korean.
  40. Web site: EASTARJET 3Q24 SE ASIA NETWORK ADDITIONS. AeroRoutes. 15 April 2024.
  41. Web site: EastarJet plans Da Nang launch from mid-June 2017. routesonline. 1 June 2017.
  42. Web site: EastarJet adds Hanoi service from Nov 2016. routesonline. 4 October 2016.
  43. https://www.eastarjet.com/newstar/PGWCA00002?cId=11&iId=0&bId=2348&lang=US&searchWord=Hanoi&searchIndex=1|title= Eastar Jet announcement
  44. Web site: EastarJet expands Vietnam network in Feb 2019. routesonline. 18 January 2019.
  45. News: 이스타항공, 7월 19일부터 인천∼푸꾸옥 매일 운항. Eastar Jet, begins Incheon ~ Phu Quoc from 19 July with daily operation. Yonhap News Agency. Korean. 4 April 2024.
  46. News: Eastar Jet signs code-sharing deal with Chinese LCC. Yonhap News Agency. 24 July 2019.
  47. Web site: EastarJet / T'Way Airlines to Start Seoul – Taipei Codeshare Service from late-April 2013. routesonline. 8 April 2013.
  48. Web site: 보유항공기 소개. Fleet. eastarjet.com.
  49. Web site: 항공기 등록현황. Aircraft registration status. atis.koca.go.kr. Ministry of Land, Infrastructure and Transport. Korean.
  50. Web site: Eastar Jet Fleet Details and History. planespotters.net. 23 August 2018. 23 August 2018.
  51. Web site: PICTURE: Eastar Jet takes delivery of its first 737 8. Taylor. Ellis . 2018-12-20 . Flightglobal.com . en-GB . 2018-12-20 .
  52. Web site: Eastar Jet again takes delivery of B737 MAX 8. ch-aviation.com. 2 June 2023. 2 June 2023.
  53. Web site: Eastar Jet Fleet Details and History - Historic Fleet . Planespotters.net . 31 August 2016 . 26 September 2016.

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