News / Asiana Airlines takeover just talk, says cautious HMM chief

HMM CEO Kim Kyung-bae said speculation that the of South Korean flagship carrier could be forced to take over Asiana Airlines, to facilitate state divestment in the shipping group, were “groundless”.

The state became HMM’s main shareholder in 2016 after a debt-for-equity swap with policy lender Korea Development Bank and other creditors.

In 2020, as major airlines suffered losses from Covid-19-related restrictions, the South Korean government pushed for Korean Air to acquire its smaller compatriot rival, Asiana.

However, antitrust authorities in the US ...