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    A020560   KR7020560009

ASIANA AIRLINES, INC.

(A020560)
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Creditors to inject $2 billion into Asiana Airlines after sale collapses

09/11/2020 | 07:50am EDT
FILE PHOTO: An Asiana Airlines Airbus A350-900 is seen at the Airbus delivery center in Colomiers near Toulouse

Creditors plan to inject $2 billion into debt-ridden Asiana Airlines after a planned sale of South Korea's second-largest carrier collapsed, a state bank said on Friday.

Kumho Industrial pulled the 2.5 trillion won ($2.11 billion) sale of the South Korean to Hyundai Development Co and brokerage Mirae Asset Daewoo.

They had agreed to buy control of Asiana in December, but called for better terms after the airline's debt surged in subsequent months after the coronavirus pandemic tore through markets and wiped out demand for travel.

Asiana CEO Han Chang-soo said it was necessary to preserve Asiana Airlines as a going concern. State-run lead creditor Korea Development Bank said creditors will relaunch Asiana's sale as soon as conditions permit.

Hyundai Development plans to respond after legal review, it said in a regulatory filing, adding that the deal fell apart due to Asiana's failure to meet preconditions.

Mirae Asset said it will respond according to future progress as a financial investor.

Asiana, which competes with bigger Korean Air Lines, had a total debt of 12.8 trillion won as of end-June, up more than 33% from a year earlier, according to its regulatory filing.

($1 = 1,186.4800 won)

By Heekyong Yang and Joyce Lee


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASIANA AIRLINES, INC. 7.17% 17200 End-of-day quote.36.18%
HDC HYUNDAI DEVELOPMENT COMPANY -0.33% 30000 End-of-day quote.14.94%
HYUNDAI CORPORATION 0.94% 21500 End-of-day quote.34.80%
HYUNDAI MOTOR COMPANY 1.06% 238500 End-of-day quote.24.22%
KOREAN AIR LINES CO., LTD. 1.77% 34500 End-of-day quote.26.84%
KUMHO ENGINEERING & CONSTRUCTION CO., LTD. -1.89% 13000 End-of-day quote.43.17%
MIRAE ASSET SECURITIES CO., LTD. -0.72% 9600 End-of-day quote.1.69%
MIRAE CORPORATION -0.75% 19800 End-of-day quote.30.26%
All news about ASIANA AIRLINES, INC.
06/01South Korean Stocks Rise for Third Straight Day on Stellar Economic Data; Dae..
MT
06/01MARKET CHATTER : Korean Air's Takeover of Asiana Approved by Thailand, Philippin..
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05/14MARKET CHATTER : Korean Air Lines Takes on Maintenance Works for Asiana's Plane ..
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05/12U.S. FAA to require strengthening key part on Boeing 777 engine
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04/27MARKET CHATTER : South Korea to Ease Ban on UK Flights from May
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04/05Japan Airlines to retire 777 planes with Pratt & Whitney engines after United..
RE
04/02MARKET CHATTER : Korean Air Lines to Retain Name After Merger with Asiana Airlin..
MT
04/01MARKET CHATTER : Korean Air-Asiana Airlines Merger on Hold until 2024
MT
03/30Korean Air expects to take two years to integrate Asiana purchase
RE
03/30MARKET CHATTER : Korean Air Lines Eyes Integration with Asiana by 2024
MT
More news
Financials
Sales 2021 4 499 B 4,03 B 4,03 B
Net income 2021 -321 B -0,29 B -0,29 B
Net Debt 2021 6 903 B 6,19 B 6,19 B
P/E ratio 2021 -7,57x
Yield 2021 -
Capitalization 1 280 B 1 146 M 1 147 M
EV / Sales 2021 1,82x
EV / Sales 2022 1,38x
Nbr of Employees -
Free-Float 98,8%
Chart ASIANA AIRLINES, INC.
Duration : Period :
Asiana Airlines, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 15 000,00 KRW
Last Close Price 17 200,00 KRW
Spread / Highest target -12,8%
Spread / Average Target -12,8%
Spread / Lowest Target -12,8%
EPS Revisions
Managers and Directors
NameTitle
Jung Sung-kwon Chief Executive Officer
Jae-Hwan Seo President & Director
Ho-Kyun Kim Managing Director & Head-Finance
Jin-Woo Park Head-Legal & Compliance support
Chang-Yeong Jeong Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ASIANA AIRLINES, INC.36.18%1 146
DELTA AIR LINES, INC.15.64%29 744
RYANAIR HOLDINGS PLC2.09%22 649
UNITED AIRLINES HOLDINGS, INC.30.68%18 289
AIR CHINA LIMITED0.16%16 608
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.27.16%14 218