SEOUL, Nov. 12 (Korea Bizwire) — A consortium led by construction firm HDC Hyundai Development Co. has been named as the preferred bidder to acquire Asiana Airlines Inc., Kumho Industrial Co. said Tuesday. Parent Kumho Asiana Group put Asiana Airlines up for sale in April and has been aiming to sell a 31 percent stake [...]
SEOUL, Nov. 5 (Korea Bizwire) — Two consortia led by cosmetics-to-airline conglomerate Aekyung Group and construction firm Hyundai Development Co. (HDC) will be major competitors in the final auction for a stake in Asiana Airlines Inc., industry sources said Tuesday. A 31 percent stake in Asiana Airlines has been up for sale, and lead manager [...]
SEOUL, Oct. 7 (Korea Bizwire) — Air Busan Co., a budget carrier unit of Asiana Airlines Inc., said Monday it will open five new routes as part of a diversification strategy. Air Busan plans to begin services on routes from Incheon to Ningbo, a sub-provincial city in northeast Zhejiang province, Nov. 12 and Shenzhen, a [...]
SEOUL, Sept. 3 (Korea Bizwire) — Aekyung, a South Korean activist fund and a consortium led by a local brokerage firm submitted initial bids to acquire Asiana Airlines Inc., South Korea’s second largest full-service carrier, industry sources said Tuesday. Kumho Asiana Group, the airline’s parent, and its lead manager for the sale, Credit Suisse, received [...]
SEOUL, Aug. 19 (Korea Bizwire) — Stock prices of Asiana Airlines Inc., South Korea’s second-biggest airline, jumped 11 percent on Monday following news that a local activist fund is considering taking over the company. Asiana shares soared 26 percent to an intraday high of 6,240 won before closing at 5,500 won. The broader KOSPI gained [...]
SEOUL, Jul. 24 (Korea Bizwire) — Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, looks set to begin the process of selling its airline unit this week as part of broad restructuring efforts, industry sources said Wednesday. “The group is likely to give a public bidding notice on Thursday or Friday to sell its entire [...]
SEOUL, Jun. 3 (Korea Bizwire) — Korean Air Lines Co. is looking at Asiana Airlines Inc., which is up for sale by its parent company, Kumho Asiana Group, the national flag carrier’s chairman said Monday. “It is a very sensitive issue to comment on but we are looking at the deal,” Korean Air Chairman Cho [...]
SEOUL, May 7 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Tuesday it will streamline its international routes and stop operating first-class cabins in September to cut costs ahead of its planned sales. Asiana said it will suspend operations of the nonprofitable routes from Incheon to Khabarovsk and Sakhalin in Russia and [...]
SEOUL, Apr. 23 (Korea Bizwire) — Creditors of Asiana Airlines Inc. will funnel 1.6 trillion won (US$1.4 billion) into the cash-strapped airline to help it overcome a liquidity crisis, its main creditor said Tuesday. The Korea Development Bank-led creditors will buy 500 billion won worth of perpetual bonds to be sold by Asiana Airlines, open [...]
SEOUL, Apr. 15 (Korea Bizwire) — Cash-strapped Kumho Asiana Group said Monday that it will put its flagship Asiana Airlines Inc. up for sale to secure a fresh loan from creditors, sending shares in the carrier on the Seoul bourse sharply higher. The group’s decision to sell Asiana Airlines came after creditors, led by the [...]