S.Korea's Air Busan surges on expectations of separate sale

Kumho Engineering & Construction

04/07/2019 06:24

** Shares of Air Busan  298690.KS , Asiana Airlines'
 020560.KS  low-budget carrier, rise for a fourth straight
session on expectations of a sale of the company separately from
Asiana
    ** Air Busan shares rise as much as 21.6% 
    ** Asiana Airlines rises 1.6%, while its biggest
shareholder, Kumho Industrial  002990.KS , drops 0.4%
    ** Local media reports have speculated a separate sale of
Air Busan, citing potential suitors' concerns over financial
burden needed to take over the debt-ridden firm
    ** Asiana's main creditor, Korea Development Bank  KDB.UL ,
on Tuesday dismissed reports about a separate sale of Air Busan,
saying it stuck to "package sale" of the carrier and its units
    ** Kumho Industrial said it would sell its entire stake in
Asiana to keep it afloat  urn:newsml:reuters.com:*:nL3N21X0EY
    ** The broader KOSPI market  .KS11  was trading up 0.2%

 ((hayoung.choi.thomsonreuters.com@reuters.net))