South Korean budget airline preferred to buy Asiana cargo unit, Yonhap says

ASIANA AIRLINES

14/06/2024 15:21

SEOUL, June 14 (Reuters) - South Korean low-cost cargo
carrier Air Incheon has been chosen as preferred bidder to buy
Asiana Airlines'  020560.KS  cargo business, Yonhap news agency
reported on Friday.
    A spokesperson for Asiana could not immediately be reached
outside working hours. Air Incheon was not available for
comment.
    Low-cost carriers Eastar Jet, Air Premia and Air Incheon,
each backed by financial investors, had participated in the
second round of bids for the business in April. 
    Korean Air  003490.KS , South Korea's biggest carrier, is
set to purchase nearly two-thirds of Asiana for about $1.4
billion, but EU antitrust authorities have stipulated that
Asiana's cargo business must be sold before they will give their
final approval.
    Yonhap said Korean Air would hold a board meeting to approve
Asiana's cargo unit sale plan on June 17, citing unidentified
sources in the airline and banking industries