(Bloomberg) Airlines in Asia are bringing back international capacity as the region gradually follows North America and Europe in reopening borders, led by the city-state of Singapore, whose economy depends on open access.
Airlines to resume flights to Saipan this month
Posted : 2021-07-14 11:52
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South Korean airlines will resume flights to Saipan later this month as scheduled despite a recent surge in COVID-19 cases.
The Seoul government recently signed a quarantine-free travel bubble agreement with Saipan to allow group tours of fully vaccinated Koreans to such holiday destinations.
The government is in talks with Guam and Singapore to sign travel bubble deals in preparation for an increase in outbound travel demand as early as late this year.
Among local carriers, Jeju Air Co. resumed flights to Saipan on June 8 in a preemptive measure to absorb post-coronavirus travel demand.
Cash-strapped Korean LCCs to bolster capital: Jeju Air to raise $175 mn
Jeju Air seeks to issue new shares to improve capital base after cutting its equity capital by five to one 15 HOURS AGO
South Korea s low-cost carriers
Jeju Air Co., South Korea’s largest low-cost carrier (LCC), seeks to raise some $175 million in new shares to boost its capital base, raising expectations that its cash-strapped local competitors will do the same as the industry remains under pressure from COVID-19.
Jeju Air plans to sell new shares to raise 200 billion won ($174.5 million), according to a filing to a financial regulator on July 7. The shares will be issued after the airline cut its equity capital by five to one.
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