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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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