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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Asiana Airlines, Inc.    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 EST
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


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASIANA AIRLINES, INC. -1.74% 5090 End-of-day quote.-5.74%
HYUNDAI CORPORATION -1.29% 15250 End-of-day quote.-14.80%
HYUNDAI DEVELOPMENT COMPANY -0.48% 20900 End-of-day quote.-18.52%
HYUNDAI MOTOR COMPANY -0.83% 179500 End-of-day quote.48.96%
KOREAN AIR LINES CO.,LTD. 1.39% 25500 End-of-day quote.-10.53%
KUMHO INDUSTRIAL CO., LTD. -1.46% 10150 End-of-day quote.-11.74%
MIRAE ASSET DAEWOO CO., LTD. 1.64% 9940 End-of-day quote.31.66%
MIRAE CORPORATION 0.00% 3300 End-of-day quote.-50.38%
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Financials
Sales 2020 4 068 B 3,68 B 3,68 B
Net income 2020 -855 B -0,77 B -0,77 B
Net Debt 2020 8 152 B 7,37 B 7,37 B
P/E ratio 2020 -1,34x
Yield 2020 -
Capitalization 1 136 B 1 023 M 1 027 M
EV / Sales 2020 281x
EV / Sales 2021 215x
Nbr of Employees -
Free-Float 33,3%
Chart ASIANA AIRLINES, INC.
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Asiana Airlines, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASIANA AIRLINES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 3 566,67 KRW
Last Close Price 5 090,00 KRW
Spread / Highest target -25,3%
Spread / Average Target -29,9%
Spread / Lowest Target -33,2%
EPS Revisions
Managers
NameTitle
Chang-Su Han Chief Executive Officer & Director
Jae-Hwan Seo President & Director
Ho-Kyun Kim Managing Director & Head-Finance
Chang-Yeong Jeong Independent Director
Byeong-Seok An Director
Sector and Competitors
1st jan.Capitalization (M$)
ASIANA AIRLINES, INC.-5.74%1 041
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