SEOUL, Sept. 11 (Korea Bizwire) — South Korea said Friday it will inject 2.4 trillion won (US$2 billion) into Asiana Airlines Inc. after a local property developer scrapped its plan to acquire the debt-ridden carrier amid the growing impact of the coronavirus on the airline industry. Kumho Industrial Co., which owns a controlling stake in [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea’s two full-service carriers delivered earnings surprises, bucking market forecasts of an extended slump amid the pandemic as they focused on carrying more cargo to offset lower passenger demand amid the new coronavirus outbreak. In the April-June quarter, Korean Air Lines Co. and Asiana Airlines Inc. turned around [...]
SEOUL, Aug. 7 (Korea Bizwire) — Asiana Airlines Inc. said Friday it shifted to a net profit in the second quarter from a year earlier as cargo-carrying volumes offset lower travel demand amid the new coronavirus outbreak. The country’s second-biggest carrier swung to a net profit of 116.15 billion won (US$98 million) in the April-June [...]
SEOUL, July 27 (Korea Bizwire) — HDC Hyundai Development Co., a major property developer, appears to be leaning toward scrapping its plan to acquire Asiana Airlines Inc. as it demanded another round of due diligence on the carrier amid the new coronavirus outbreak, industry sources said Monday. HDC said Sunday it has sent a letter [...]
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 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 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 [...]
SEOUL, May 14 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Thursday it will resume flights on 13 international routes next month as the coronavirus outbreak seems to have passed its peak. The move comes on the heels of its bigger local rival Korean Air’s similar plan. Asiana plans to restart flight [...]