S.Korea's Asiana Airlines, affiliates surge on reports of budget carriers' sale
25/09/2020 02:35
** Shares of South Korea's second-largest carrier Asiana
Airlines Inc 020560.KS rise as much as 12.9% to 3,890 won,
while its budget carrier Air Busan Co Ltd 298690.KS and
logistic affiliate Asiana IDT Inc 267850.KS climb as much as
17.5% and 16.8%, respectively
** South Korea's Dong-A Ilbo reported on Friday that Asiana
Airlines and its creditors are considering to sell Asiana's
affiliates including its budget carriers Air Busan and Air Seoul
this year, citing aviation industry sources
** "Separate sales of Asiana's affiliates is something we
need to factor in to reconsider Asiana's value, but nothing has
not been decided yet," a spokesperson at Asiana's major creditor
Korea Development Bank said
** Asiana declined to comment
** This comes after a planned sale of debt-ridden Asiana
Airlines collapsed on Sept 11 urn:newsml:reuters.com:*:nL4N2G826X
** "After the Asiana sale deal collapsed, investors are now
interested in separate sale of Asiana's affiliates, because they
hope that those affiliates might get proper value when sold
separately," said Um Kyung-a, an analyst at Shinyoung
Securities.
** The benchmark KOSPI market .KS11 was up 0.5%, as of
0112 GMT
($1 = 1,170.2300 won)
(Reporting by Heekyong Yang and Jihoon Lee)
((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))