Asiana: "We Have Provided Requested Materials by Hyundai Development Company Sincerely and Transparently"

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] Asiana Airlines on the 11th refuted HDC Hyundai Development Company's claim of its insincere submission of documents, stating, "We have faithfully and transparently provided the materials requested by HDC management."

Asiana Airlines released a statement in the afternoon saying, "The matters mentioned by HDC regarding changes in financial status, additional borrowing, and issuance of perpetual convertible bonds are issues for which we have, in accordance with the terms set forth in the transaction agreement, sincerely provided sufficient materials and explanations, and have proceeded with consultation and consent procedures," clarifying their position.

Asiana Airlines also stated, "Since the signing of the transaction agreement last December, we have made our best efforts to successfully conclude the transaction," and emphasized, "We will continue to faithfully fulfill all matters that must be carried out until the transaction is completed."

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