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Business deals

South Korean budget airline deal scrapped amid pandemic

Jeju Air cites uncertainty in canceling purchase of troubled Eastar

Eastar Jet, which employs about 1,600 people, has been ordered by the transport ministry to minimize job losses. (Photo from airline's Facebook account)

SEOUL -- Jeju Air, South Korea's largest low-cost carrier, will drop its planned acquisition of foundering compatriot Eastar Jet as the coronavirus pandemic wipes out demand for air travel.

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