Asiana Airlines notes improved liquidity at the end of Nov-2018

    Asiana Airlines raised (04-Dec-2018) KRW457 billion (USD413.3 million) in funds at the end of Nov-2018 through the sale of parent Kumho Asiana Group‘s headquarter building and a stake in CJ Logistics Corporation and the issuance of convertible bonds and asset-backed securities. The carrier said the funds will be used to pay most of the KRW2.1 trillion (USD1.89 billion) worth of debts that will mature in 2018. Asiana also raised funds through an initial public offering (IPO) of its information and communication technology unit, Asiana IDT Inc while its Air Busan subsidiary is seeking to list shares on the main Korea Exchange within this year. Asiana had KRW300 billion (USD271 million) in cash reserves at the end of Nov-2018, an increase of KRW200 billion (USD181 million) from the end of 2017. [more – original PR – Korean]