SEOUL -- Jeju Air, South Korea's biggest budget airline, has agreed to take over fifth-ranked carrier Eastar Jet for 54.5 billion won ($45.7 million), a price partly undercut by the ongoing coronavirus outbreak.
Jeju will buy a 51.17% stake in Eastar from the latter's parent company in April. The purchase price was negotiated down by about a fifth compared with a preliminary agreement struck last year.
