SEOUL, March 15 (Korea Bizwire) – Asiana Airlines Inc., South Korea’s second-biggest carrier, said Monday it will extend the expiration dates of its mileage that will expire at the end of this year by one year to 2022 amid the COVID-19 pandemic. Asiana Airlines already extended mileage points due to expire at the end of [...]
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, [...]
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 [...]
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 [...]
SEOUL, Dec. 2 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday it will conduct due diligence on Asiana Airlines Inc. until mid-March while drawing up an integration plan for the two airlines. Korean Air plans to raise 2.5 trillion won through rights offering early next year and spend 1.8 trillion [...]
SEOUL, Dec. 1 (Korea Bizwire) — A South Korean court on Tuesday rejected an injunction filed by a local equity fund against Hanjin KAL’s stock sales meant to fund its affiliate Korean Air Lines Co.’s takeover of smaller rival Asiana Airlines Inc., clearing one of the hurdles for the largest deal ever in the airline [...]
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 [...]
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 [...]
SEOUL, Nov. 18 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, will proceed with the deal to acquire its smaller local rival Asiana Airlines Inc. without job cuts, the company’s chairman said Wednesday. “The company made a decision to acquire (Asiana Airlines) to make a contribution to the development of the country’s [...]
SEOUL, Nov. 16 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Monday that it will acquire Asiana Airlines Inc. in a deal valued at 1.8 trillion won (US$1.6 billion) that would create the world’s 10th-biggest airline by fleets. Korean Air plans to raise 2.5 trillion won via rights offerings early next [...]