SEOUL, June 26 (Korea Bizwire) – Jeju Air Co.’s planned takeover of smaller local rival Eastar Jet Co. could be delayed further due to differences over acquisition terms between the two sides amid the new coronavirus outbreak, industry sources said Friday. In March, Jeju Air signed a deal to acquire a controlling 51.17 percent stake [...]
SEOUL, June 26 (Korea Bizwire) — HDC Hyundai Development Co.’s planned acquisition of Asiana Airlines Inc. has been delayed to the second half due to the new coronavirus’ impact on the airline industry, industry sources said Friday. In December, the HDC-Mirae Asset Daewoo consortium signed a deal to acquire the country’s second-biggest airline from Kumho [...]
SEOUL, June 23 (Korea Bizwire) – Coffee delivery services are not an unfamiliar concept in South Korea. Serving persons at tea houses, or “dabang” in Korean, used to deliver cups of coffee filled with sugar and cream on foot. Big-name coffee chains such as Starbucks and small independent cafes replaced such tea houses by offering [...]
SEOUL, June 22 (Korea Bizwire) — Jeju Air Co., South Korea’s leading low-cost carrier, has been at odds with Eastar Jet Co. over Eastar’s demand for the shouldering of some of its overdue wage payments, industry officials said Monday, a move that could act as a possible deal breaker. The dispute comes seven days before [...]
SEOUL, June 18 (Korea Bizwire) — Korean Air Lines Co. and Asiana Airlines Inc. — South Korea’s two largest airlines — said Thursday they will extend mileage points, set to expire this year, by one year amid the new coronavirus outbreak. The two carriers made the decision as the COVID-19 pandemic has greatly affected passenger [...]
SEOUL, June 15 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Monday it has raised the ceilings on stock and bond issuance in a bid to secure more funds amid new coronavirus worries. In an extraordinary shareholders’ meeting earlier in the day, Asiana shareholders agreed to a plan to raise the issuance [...]
SEOUL, June 11 (Korea Bizwire) — Korean Air Lines Co., South Korea’s largest airline, said Thursday it will extend unpaid leave for its flight attendants in the latest move to cope with a sharp decline in air travel demand amid the spread of the coronavirus. Korean Air said all flight attendants who have worked for [...]
SEOUL, June 10 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday it has started boarding passengers from back to front to help stem the potential spread of the new coronavirus. On Wednesday, Korean Air began to apply the back-to-front boarding system on all of its domestic and international routes to [...]
SEOUL, June 9 (Korea Bizwire) — HDC Hyundai Development Co., a major construction company here, on Tuesday called for a renegotiation with the creditors of Asiana Airlines Inc. over its planned acquisition of the country’s No. 2 airline due to a sharp rise in debts and the growing impact of the new coronavirus on the [...]
SEOUL, June 7 (Korea Bizwire) — Asiana Airlines Inc. said Sunday it has transported over 200 South Korean students to Vietnam as the Southeast Asian country issued a one-off permit for the transportation. Asiana flight OZ733 left Incheon International Airport at 9:20 a.m. Sunday with 218 Korean students on board and arrived at Noi Bai [...]