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Aekyung, HDC Seen as Front-runners in Race to Take Over Asiana Airlines

Aekyung, HDC Seen as Front-runners in Race to Take Over Asiana Airlines

SEOUL, Nov. 5 (Korea Bizwire) — Two consortia led by cosmetics-to-airline conglomerate Aekyung Group and construction firm Hyundai Development Co. (HDC) will be major competitors in the final auction for a stake in Asiana Airlines Inc., industry sources said Tuesday. A 31 percent stake in Asiana Airlines has been up for sale, and lead manager [...]

Aekyung, 2 Others Make Preliminary Bids for Asiana Airlines

Aekyung, 2 Others Make Preliminary Bids for Asiana Airlines

SEOUL, Sept. 3 (Korea Bizwire) — Aekyung, a South Korean activist fund and a consortium led by a local brokerage firm submitted initial bids to acquire Asiana Airlines Inc., South Korea’s second largest full-service carrier, industry sources said Tuesday. Kumho Asiana Group, the airline’s parent, and its lead manager for the sale, Credit Suisse, received [...]

Asiana to Remove Nonprofitable Routes, First-class Cabins

Asiana to Remove Nonprofitable Routes, First-class Cabins

SEOUL, May 7 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Tuesday it will streamline its international routes and stop operating first-class cabins in September to cut costs ahead of its planned sales. Asiana said it will suspend operations of the nonprofitable routes from Incheon to Khabarovsk and Sakhalin in Russia and [...]