SEOUL (Reuters) -Four South Korean low-cost carriers remain in the race to buy Asiana Airlines' cargo business, two people with knowledge of the matter said on Thursday.

Jeju Air, Eastar Jet, Air Premia and Air Incheon submitted bids in the second round of bidding for the business, the people said, declining to be identified as they were not authorised to speak to media about the deal.

Jeju Air and Air Premia declined to comment.

Spokespeople for Eastar Jet and Air Incheon could not be immediately reached for comment.

Korean Air, South Korea's biggest carrier, is set to purchase nearly two-thirds of Asiana for about $1.4 billion, but EU antitrust authorities have stipulated that Asiana's cargo business must be sold before they will give their approval.

Online media Yonhap Infomax earlier reported the remaining bidders citing unnamed investment banking sources.