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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Jeju Air Co., Ltd.    A089590   KR7089590004

JEJU AIR CO., LTD.

(A089590)
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South Korea's Aekyung, two others make binding bids for Asiana Airlines stake

11/07/2019 | 03:04am EST
An Asiana Airlines Boeing 747-400 taxis at San Francisco International Airport, San Francisco

Three bidders, including a consortium led by South Korean conglomerate Aekyung, submitted formal bids for a controlling stake in Asiana Airlines Inc, the country's No. 2 carrier, company officials said on Thursday.

Shares of the carrier slid nearly 5.2% and those of its low-cost arm, Air Busan Co Ltd, ended nearly flat, as the company attracted no bids from major funds and larger conglomerates like SK Group and GS Group.

South Korean airlines have struggled with losses and debt amid rising competition from budget rivals, falling tourism traffic between South Korea and Japan, higher fuel costs and unfavourable currencies.

The 31.05% stake, worth about 365 billion won ($315.28 million) at current prices, was offered for sale by top shareholder Kumho Industrial Co Ltd as it struggles to reduce debt. The price is expected to grow sharply, as the buyer will also take on new shares issued by the loss-making carrier, plus a premium, analysts say.

The other two bidders are a consortium of Hyundai Development, brokerage Mirae Asset Daewoo and activist fund KCGI, which partnered with BankerStreet for the bid.

It will take about a week to choose a preferred bidder, top shareholder Kumho Industrial said, although that schedule could change.

"We aim to name the preferred bidder as soon as possible and close the deal accordingly," it said in a statement.

Kumho Industrial in April hired Credit Suisse to manage the sale of its stake.

Aekyung Group, which controls South Korea's top budget carrier Jeju Air, said acquiring Asiana would allow its airlines to achieve economies of scale and reduce redundancies.

Shares of AK Holdings, the holding firm Aekyung Group, rose as much as 13%.

(Reporting by Heekyong Yang and Hyunjoo Jin; Additional reporting by Ju-min Park; Editing by Muralikumar Anantharaman, Stephen Coates and Gerry Doyle)

By Heekyong Yang and Hyunjoo Jin


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AEKYUNG INDUSTRIAL CO., LTD. 4.25% 25750 End-of-day quote.5.10%
AIR BUSAN CO., LTD. 0.80% 3785 End-of-day quote.15.57%
AK HOLDINGS, INC. 12.57% 29100 End-of-day quote.15.71%
ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD. 1.57% 10.34 End-of-day quote.-15.45%
ASIANA AIRLINES, INC. 1.58% 16050 End-of-day quote.27.08%
AT HOME GROUP INC. 0.73% 24.93 Delayed Quote.61.25%
CHANGE INC. -4.66% 3475 End-of-day quote.-1.42%
HYUNDAI DEVELOPMENT COMPANY 1.78% 31500 End-of-day quote.20.69%
JEJU AIR CO., LTD. 1.49% 20400 End-of-day quote.11.17%
KUMHO INDUSTRIAL CO., LTD. 0.21% 9360 End-of-day quote.3.08%
LETS HOLDINGS GROUP CO., LTD. 5.79% 7.86 End-of-day quote.1.03%
LOOK HOLDINGS INCORPORATED -1.40% 918 End-of-day quote.-4.08%
MIRAE ASSET DAEWOO CO., LTD. -0.71% 9800 End-of-day quote.3.81%
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More news
Financials
Sales 2020 386 B 0,35 B 0,35 B
Net income 2020 -282 B -0,26 B -0,26 B
Net Debt 2020 607 B 0,55 B 0,55 B
P/E ratio 2020 -2,43x
Yield 2020 -
Capitalization 784 B 709 M 709 M
EV / Sales 2020 3,61x
EV / Sales 2021 1,92x
Nbr of Employees -
Free-Float 39,4%
Chart JEJU AIR CO., LTD.
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Jeju Air Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends JEJU AIR CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 15 150,00 KRW
Last Close Price 20 400,00 KRW
Spread / Highest target -11,8%
Spread / Average Target -25,7%
Spread / Lowest Target -38,7%
EPS Revisions
Managers and Directors
NameTitle
Seok-Joo Lee Chairman & Chief Executive Officer
Yeong-Dae Kim Executive Board Member & Head-Equipment Operations
Tae-Yoon Kim Director, MD, Head-Finance & Planning
Myeong-Seob Yoo Director, Managing Director & Head-Commercial
Jae-Chun Kim Director, VP & Head-Management
Sector and Competitors
1st jan.Capitalization (M$)
JEJU AIR CO., LTD.11.17%709
DELTA AIR LINES, INC.-0.52%25 406
RYANAIR HOLDINGS PLC-8.67%20 374
AIR CHINA LIMITED-11.64%13 885
UNITED CONTINENTAL HOLDINGS, INC.-2.57%13 141
CHINA SOUTHERN AIRLINES COMPANY LIMITED-9.09%11 850