Eastar Union: "1,600 Lives at Stake, Jeju Air Irresponsible... Government Must Act Decisively"

On the 8th, Eastar Jet employees held a rally in front of the Aekyung Group headquarters in Mapo-gu, Seoul, urging Jeju Air to acquire Eastar Jet. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Yu Je-hoon] Amid the collapse of the merger and acquisition (M&A) between Jeju Air and Eastar Jet, the Eastar Jet Pilots' Union has urged the government to actively mediate to finalize the deal.

On the morning of the 17th, the Eastar Jet Pilots' Union released a statement saying, "The announcement by Jeju Air's management that the conditions for terminating the stock purchase agreement have been met is the height of immorality and irresponsibility, showing only the ruthlessness and cruelty of capital."

Jeju Air had previously stated that Eastar Holdings, the parent company of Eastar Jet, failed to fulfill the contract's preconditions, thus meeting the conditions for terminating the stock purchase agreement. However, considering government mediation and other factors, the final decision on contract termination was postponed, leaving room for negotiation.

Regarding this, the union pointed out, "If Jeju Air maintains the situation, it can naturally achieve the desired workforce reduction by accumulating unpaid wages and increasing the threat of bankruptcy, and it can pressure for more government subsidies under the pretext of employment. Even if the plan fails, they will bankrupt Eastar Jet to strengthen their monopoly position in the low-cost carrier (LCC) market."

The union further addressed the government, saying, "The government has repeatedly emphasized employment safety nets as a key task during the COVID-19 pandemic, but the Moon Jae-in administration and the ruling party, which neglected the situation, cannot escape responsibility. Although the government has belatedly stepped in to mediate, Jeju Air's management has once again postponed the final decision as if mocking the government. This is truly disgraceful."

The union concluded, "Even if Lee Sang-jik, a member of the Democratic Party of Korea, and Jeju Air mock and trample on Eastar Jet workers, and even if the government and ruling party ignore our workers' demands, we will fight to the end to protect our humble and rightful workplace. The government must actively intervene to resolve this."

This content was produced with the assistance of AI translation services.