SEOUL, Dec 27 — A South Korean construction firm today signed a deal to acquire Asiana, the country’s second-largest airline, which has long been plagued by financial problems. The HDC Hyundai Development Company said its consortium closed on a 2.5 trillion won (US$2.2 billion) controlling...
An aerial view shows an Asiana Airlines airplane which ran out of runway after landing at Hiroshima airport in Mihara, Hiroshima prefecture, western Japan, in this photo taken by Kyodo April 15, 2015. — Reuters pic
The HDC Hyundai Development Company said its consortium closed on a 2.5 trillion won controlling stake in the troubled airline, which currently owes some 3 trillion won to financial institutions. Kumho, Asiana’s parent company for more than 30 years, has struggled in recent years and was hit especially hard by the global financial crisis.
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