Mobility
Budget carrier Jeju Air expected to receive W190b in state support
Nov. 5, 2020
Jeju Air, South Korea's top low-cost carrier, is expected to receive some 190 billion won ($169 million) in state financial support, as the company seeks to overcome a pandemic-caused cash crunch, sources said Thursday. The main creditor, the Export-Import Bank of Korea, has conducted due diligence on Jeju Air and estimated it needs a capital injection of about 198 billion won, according to the sources. In May, South Korea launched a 40 trillion-won fund to provide financial aid to the count