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Asiana acquired by HYUNDAI HDC starting with new management

Asiana acquired by HYUNDAI HDC starting with new management

Old Jul 29, 20, 3:49 pm
Join Date: Nov 2013
Location: NYC
Programs: OZ Diamond *A Gold / AF Silver
Posts: 522
Originally Posted by Jimgotkp View Post
Will Asiana Airlines become next Eastar Jet?

Hyundai Development Company's (HDC) planned takeover of Asiana Airlines appears to be on the brink of collapse, following the former's official request for another round of due diligence on the cash-squeezed air carrier, aviation industry officials and analysts said Monday.

HDC is putting the blame for the delay in negotiations on Kumho Industrial, which had decided to sell its airline unit, claiming that the latter has failed to send formal data related to the carrier's financial status, despite repeated requests since early April.
Hopefully this is sorted out by the government, HDC is certainly playing game but Kumho should also accept to value the deal down, potentially accept lower benefits and make sure most of the amount is used to pay back the debt. One can hope!
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