Suitors move up to starting line for race for Asiana air cargo arm
As Korean Air and Korea Development Bank gear up to select a preferred buyer for ...
© Songallery
By Alex Lennane
Asiana and Korean Air are holding board meetings today to consider the sale of Asiana’s cargo arm, before a merger of the pair. The European Commission requested remedies to address anti-competitive concerns, which could be fulfilled by the sale of the cargo operations. Korean Air (KAL) must submit its plans by the end of tomorrow. According to Korea JoongAng Daily, KAL will put together a plan for selling Asiana’s cargo business, along with detailed measures to maintain employment levels. Asiana will then meet to decide on the plan. Asiana operates 11 B747 freighters.
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