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 [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean air carrier Asiana Airlines Inc. said Thursday it will offer domestic sightseeing flights to pandemic-weary air passengers next month. The “flights to nowhere” — air travel purely for the purpose of the journey, not the destination — will be offered on Oct. 24 and 25, said Asiana, [...]
SEOUL, Sept. 11 (Korea Bizwire) — The prolonged impact of the new coronavirus on the airline industry has derailed two major deals in the aviation sector here, triggering concerns of massive layoffs and the overhaul of the country’s airline industry amid worsening business conditions. On Friday, Kumho Industrial Co., which owns Asiana Airlines Inc. notified [...]
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 [...]