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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Asiana Airlines, Inc.    A020560   KR7020560009

ASIANA AIRLINES, INC.

(A020560)
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South Korea's Asiana to get $1.4 billion liquidity from state banks

04/21/2020 | 06:21am EST
FILE PHOTO: An Asiana Airlines Boeing 747-400 taxis at San Francisco International Airport, San Francisco

South Korea's two state-owned banks said on Tuesday they will provide up to 1.7 trillion won ($1.4 billion) in fresh liquidity to Asiana Airlines, the country's second-largest carrier, as the industry struggles with the coronavirus crisis.

The loans are expected to keep the loss-making carrier going as Asiana awaits the completion of its acquisition by a consortium led by a South Korean builder, signed in December.

Asiana can use the liquidity in the form of loans as needed, spokesmen for Korea Development Bank (KDB) and Export-Import Bank of Korea said.

A consortium led by Hyundai Development Co (HDC) in December had signed a deal to acquire a controlling stake in Asiana at 2.5 trillion won.

However, the deal has not closed as regulatory approval from various countries for the acquisition is pending, while the impact from the coronavirus pandemic on the aviation industry has also raised questions about the deal's progress, Yonhap news agency and other local media said.

A HDC spokesman said on Tuesday that the process of acquiring Asiana remains on track, but declined comment on when it would be completed.

The banks had previously provided 1.6 trillion won in financial support to Asiana.

Asiana had been loss-making even before the coronavirus pandemic grounded 324 out of 374 planes of South Korean airlines in early April, according to lobby group Korea Civil Aviation Association. It reported a net loss of 818 billion won in 2019.

(Reporting by Joyce Lee; Editing by Jacqueline Wong)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASIANA AIRLINES, INC. 1.58% 16050 End-of-day quote.27.08%
AT HOME GROUP INC. 0.73% 24.93 Delayed Quote.61.25%
HYUNDAI DEVELOPMENT COMPANY 1.78% 31500 End-of-day quote.20.69%
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Financials
Sales 2020 4 144 B 3,75 B 3,75 B
Net income 2020 -853 B -0,77 B -0,77 B
Net Debt 2020 7 458 B 6,75 B 6,75 B
P/E ratio 2020 -1,44x
Yield 2020 -
Capitalization 1 194 B 1 080 M 1 081 M
EV / Sales 2020 2,09x
EV / Sales 2021 1,63x
Nbr of Employees -
Free-Float 86,1%
Chart ASIANA AIRLINES, INC.
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Asiana Airlines, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends ASIANA AIRLINES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 11 700,00 KRW
Last Close Price 16 050,00 KRW
Spread / Highest target -17,8%
Spread / Average Target -27,1%
Spread / Lowest Target -34,6%
EPS Revisions
Managers and Directors
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
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