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Asiana Q1 Net Losses Narrow on Robust Cargo Demand

Asiana Q1 Net Losses Narrow on Robust Cargo Demand

SEOUL, May 17 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline, said Monday its net losses narrowed in the first quarter from a year earlier as increased cargo sales helped offset a slump in passenger travel. Net losses stood at 230.4 billion won (US$202.9 million) in the January-March period, compared with a loss [...]

Asiana Converts 2 More Passenger Jets for Cargo Transport

Asiana Converts 2 More Passenger Jets for Cargo Transport

SEOUL, Feb. 22 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Monday it has converted two additional passenger jets into cargo planes to offset a sharp decline in air travel demand amid the coronavirus pandemic. Asiana has converted two more A350-900 passenger jets into cargo carriers to meet cargo-transporting demands in Asia, [...]

Asiana 2020 Net Losses Narrow on Self-help Efforts

Asiana 2020 Net Losses Narrow on Self-help Efforts

SEOUL, Feb. 16 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline by sales, said Tuesday its net losses narrowed in 2020 from a year earlier on cost cuts and other self-help measures. Net losses narrowed to 404.51 billion won (US$367 million) last year from 817.89 billion won the previous year as the company [...]

Korean Air to Up Stock Sale to 3.3 tln Won for Asiana Acquisition

Korean Air to Up Stock Sale to 3.3 tln Won for Asiana Acquisition

SEOUL, Jan. 22 (Korea Bizwire) – Korean Air Lines Co., South Korea’s biggest carrier, said Friday it will raise a higher than previously planned amount by selling stocks for its planned acquisition of smaller rival Asiana Airlines Inc. Korean Air plans to sell 3.3 trillion won (US$3 billion) worth of new stocks, which is higher than [...]

Korean Air’s Asiana Takeover Requires Regulatory Approval from 4 Countries

Korean Air’s Asiana Takeover Requires Regulatory Approval from 4 Countries

SEOUL, Nov. 29 (Korea Bizwire) — South Korea’s biggest carrier Korean Air Lines Co.’s planned acquisition of the debt-laden Asiana Airlines Inc. requires approval from antitrust authorities in at least four other countries, industry sources said Sunday. According to the aviation industry sources and the Fair Trade Commission (FTC), the planned merger requires review from [...]

Korean Air’s Asiana Acquisition Faces Bumpy Road After Injunction

Korean Air’s Asiana Acquisition Faces Bumpy Road After Injunction

SEOUL, Nov. 20 (Korea Bizwire) — Creditors’ plan to sell the debt-laden Asiana Airlines Inc. to its bigger rival Korean Air Lines Co. faces a bumpy road as a local equity fund has filed an injunction against the plan. On Tuesday, Asiana’s main creditor, the Korea Development Bank (KDB), signed an investment agreement with Korean [...]