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Korea Development Bank says Korean Air to invest 1.8 trln won to become Asiana Airlines' largest shareholder
Korean Air Q2 Operating Profit 148 Billion Won, Swings To Profit From Year Earlier
Korean Air: 2019 Operating Profit $246 Mln, Down 56.4% From A Year Ago
Korean Air Lines Co Ltd is a Korea-based company principally engaged in the air transportation business. The Company operates its business through four segments. The Air Transport Business segment engages in the domestic and international routes operation for passengers and cargoes; aircrafts operation. The Aerospace Business segment conducts research and development on aircraft design and manufacturing, civil and military aircrafts maintenance, satellites and others. The Hotel Business segment manages and operates hotels. The Other Business segment manufactures and sells in-flight meals, provides duty free sales and information technology (IT) services.
260, Haneul-gil, Gangseo-gu
Won Tae Cho
Chairman of the Board, Co-Chief Executive Officer
Gi Hong Woo
President, Co-Chief Executive Officer, Director
Su Geun Lee
Vice President, Director
Eun Yong Ha
Seong Hyeon Jang
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Korean Air Lines Co Ltd said on Wednesday it expects its cargo business to face tougher competition next year as rivals expand in this area to offset a slump in passenger travel globally because of the pandemic.
A Seoul court on Tuesday allowed Korean Air Lines' parent company to go ahead with a stock issuance, clearing the way for the flag carrier's planned acquisition of indebted Asiana Airlines.
Asiana Airline's <020560.KS> lead creditor bank called for backing for Korean Air's <003490.KS> takeover of the debt-ridden Korean carrier on Thursday in the face of opposition to the plan from some shareholders.
Hanjin Kal <180640.KS>, owner of Korean Air Lines <003490.KS>, is expected to bar some members of the carrier's founding family from managing some affiliates as it consolidates Korean Air with Asiana Airlines <020560.KS>, a state bank said.
Korean Air Lines Co Ltd <003490.KS> plans to spend 1.8 trillion won ($1.62 billion) to become the top shareholder of indebted Asiana Airlines Inc <020560.KS>, in aviation's first major consolidation since COVID-19 brought the industry to its knees.
Shares in Asiana Airlines Inc <020560.KS> soared on Friday on prospects that the owner of larger rival Korean Air Lines Co Ltd <003490.KS> could buy a hefty stake in the debt-laden, pandemic-hit carrier.
South Korea's largest airline Korean Air <003490.KS> on Friday posted a consolidated operating loss of 82.8 billion won ($67.3 million) for the January-March quarter, swinging into the red as the aviation industry reels from the coronavirus pandemic.
South Korea's largest airline Korean Air said on Friday its provisional consolidated operating loss for the January-March quarter was 82.8 billion won ($67.25 million), as travel restrictions and crippled demand due to the coronavirus pandemic hit the aviation industry.
South Korea's largest airline, Korean Air <003490.KS>, plans to sell around 1 trillion won ($816.55 million) in new shares in its biggest rights issue in 20 years to raise funds amid mounting strains in the industry due to the pandemic.
South Korea's largest airline, Korean Air, said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in shares to raise funds as airlines' finances come under strain from grounded fleets due to travel restrictions and crippled demand from the coronavirus...
South Korea's largest airline Korean Air <003490.KS> will decide whether to sell up to about 1 trillion won ($820.24 million) in shares in a board meeting on Wednesday, Yonhap said on Monday, as finances come under strain from the coronavirus pandemic.
Two state-owned banks in South Korea said on Friday they would provide up to 1.2 trillion won ($971 million) in liquidity to support Korean Air Lines Co Ltd <003490.KS> as the aviation industry reels from the coronavirus crisis.
Two state-owned banks in South Korea said on Friday they will provide up to 1.2 trillion won ($972 million) in liquidity to support Korean Air Lines Co Ltd as the aviation industry reels from the coronavirus crisis.
Korean Air said on Tuesday 70% or more of its employees working in South Korea will take a six-month leave of absence as part of the carrier's efforts to overcome operational difficulties resulting from the coronavirus pandemic.
* KOREAN AIR SAYS 70% OR MORE OF EMPLOYEES TO TAKE LEAVE OF ABSENCE FOR 6 MONTHS FROM APRIL 16 TO OCT 15 AS PART OF EFFORTS TO OVERCOME OPERATIONAL DIFFICULTIES FROM CORONAVIRUS
Korean Air Lines Co Ltd will suspend flights to Washington, D.C. starting April 13 through to the end of May due to the coronavirus crisis, a company spokesperson said on Wednesday.
* Warring camps raised stakes in family feud-fuelled proxy fight
Shareholders of Korean Air's parent firm Hanjin Kal voted on Friday to keep Korean Air CEO and group Chairman Walter Cho as a board director on Friday.
South Korea's National Pension Service (NPS) will vote for Hanjin Group chairman Walter Cho to keep his board seat in Korean Air's parent firm Hanjin Kal at a shareholders' meeting on Friday, the fund said.
South Korean prosecutors on Thursday launched a probe into allegations that Korean Air's <003490.KS> CEO and his sister are responsible for a former executive's taking payments from Airbus <AIR.PA> in return for buying that company's aircraft.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.