Business
Korean Air “in talks” to buy struggling rival Asiana – Executive Traveller
Asiana Airlines could become another aviation casualty of the coronavirus pandemic.
Korean Air is said to be in talks to buy up rival Asiana Airlines in what would be a massive shake-up of South Korea’s aviation industry.
Asiana has struggled for several years, and in June revealed its carried debts exceed US$11 billion.
South Korean media are reporting that Hanjin Group, which owns Korean Air, is in discussions with Korea Development Bank Asianas largest creditor to buy the troubled airline, and plans to submit a ‘letter of intent’ to the bank this month.
A spokesperson for Hanjin…
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