Eastar Jet Back on Its Feet After Debt Workout

Budget carrier Eastar Jet has emerged blinking into the light from a court-mediated rehabilitation program after little over a year.

The Seoul Bankruptcy Court closed Eastar Jet's case on Tuesday, saying, "Eastar Jet began repaying its debts according to the rehabilitation plan and no obstacles are expected in carrying out the plan."

After halting all flights in March of 2020 due to its financial difficulties, Eastar Jet applied for court receivership in January last year and was later acquired by midsize property developer Sungjung.

The carrier has already applied for a new air operator's certificate with the Ministry of Land, Infrastructure and Transport and hopes to resume flights first on the Gimpo-Jeju Island route in April or May.