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 [...]
SEJONG, Nov. 12 (Korea Bizwire) — Hanjin Group, which owns South Korea’s top flag carrier Korean Air Lines Co., is mulling acquiring the country’s No. 2 carrier Asiana Airlines Inc., sources here said Thursday. Hanjin Group is in talks with the state-run Korea Development Bank (KDB), the main creditor of Asiana, to buy the debt-ridden [...]
SEOUL, Sept. 28 (Korea Bizwire) — Korean Air Lines Co. and Asiana Airlines Inc. — South Korea’s two biggest carriers — are preparing to transport vaccines for the novel coronavirus as governments around the world continue throw resources behind efforts to develop a vaccine. While it is still too early to decide when or how [...]
SEOUL, Sept. 24 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Thursday it has converted three passenger jets into cargo planes to offset a sharp decline in air travel demand amid the coronavirus pandemic. Asiana has converted an A350-900 passenger jet and two B777-200ER jets into cargo carriers, with the two B777-200ERs [...]