[Featured Stock] Asiana Airlines Soars on Nationalization Possibility

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Asiana Airlines is surging, rising more than 20%. The news of a possible nationalization appears to have influenced this.

As of 2:45 PM on the 28th, Asiana Airlines was trading at 4,315 KRW, up 21.21% (755 KRW) compared to the previous trading day.

On the same day, Sohn Byung-doo, Vice Chairman of the Financial Services Commission, met with reporters after the 'Financial Risk Response Team Meeting' held at the Bankers Hall in Myeongdong, Seoul, and said, "We are considering all possibilities and are in consultation with institutions." However, he added, "There is no need to make premature assumptions."

Asiana Airlines' main creditor banks, the Korea Development Bank and the Export-Import Bank of Korea, supported Asiana Airlines by acquiring perpetual bonds worth a total of 800 billion KRW, including 500 billion KRW last year and 300 billion KRW this year. If these are converted into shares, their stake would rise to 37%, making them the largest shareholder.

Previously, the HDC Hyundai Development Company-Mirae Asset Daewoo consortium signed a contract to acquire Kumho Industrial and Asiana Airlines last year, but the deal has been delayed due to worsening management difficulties in the aviation industry caused by the COVID-19 pandemic.

This content was produced with the assistance of AI translation services.