Korean Air 'in Talks' to obtain Asiana
14 November, 2020
The parent company of Korea's top flag carrier Korean Air is apparently thinking about acquiring rival Asiana Airlines.
Sources say Hanjin Group is in talks with the state-run Korea Development Bank to buy the debt-ridden second flag carrier. A KDB official said a deal is under consideration but noted nothing has been confirmed yet.
Asiana has been struggling to remain afloat because of the coronavirus epidemic. A youthful deal to get the carrier by property developer HDC Hyundai Development fell through as losses mounted, leaving Asiana high and dry.
Between them, Korean Air and Asiana account for a lot more than 50 percent of the passenger flight market here.
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