Korea Asiana Airlines split negotiations on sale, major changes in business environment in Corona

Korea Asiana Airlines’ sales negotiations break down The business environment changes significantly in Corona September 12 at 7:42 a.m.

South Korean aviation giant Asiana Airlines, which has been negotiating a sale with a major real estate company since last year after the group’s cash finances deteriorated, revealed on November 11 that negotiations had broken down. It has been pointed out that the business environment has changed significantly due to the influence of the new coronavirus, and the Korean government has decided to provide more than 200 billion yen in Japanese yen.
Asiana Airlines was part of the Asiana Group, a conglomerate, but due to the deterioration in the group’s cash finances, it was decided that it would be sold in April last year, and it was negotiating with a major real estate company, HDC Hyunde (Modern) Industrial Development Co., Ltd.

However, Asiana Airlines and others today revealed that the negotiations had broken down.

The Korean media reported that although both sides agreed in December last year to sell the product for 2,500 billion won and about 230 billion yen in Japanese yen, the corporate federation called for a review of the conditions and was thong with the impact of the new Coronavirus, which has significantly changed the environment surrounding the company’s management.

In response, the South Korean government has decided to provide approximately 210 billion yen in assistance to Asiana Airlines, but local media have reported that Asiana Airlines will be forced to look for a new sale destination in the future, and the situation is likely to continue.