2024-06-17 16:17:32
Air Incheon, a home cargo-only airline
Complete evaluation and judgment of transaction certainty, long-term competitiveness, funds, and so forth.
After signing the essential settlement subsequent month, evaluation by the European Competitors Authority (EC) can be promoted.
Korean Air introduced on the seventeenth that it had chosen Air Incheon, an air cargo-only airline, as the popular negotiating social gathering for the sale of Asiana Airways’ cargo aircraft enterprise. It was determined via a decision of the board of administrators on today.
It’s stated that Air Incheon was chosen as the popular negotiating social gathering in consideration of transaction certainty when buying the enterprise, the opportunity of sustaining and rising long-term enterprise competitiveness within the air cargo enterprise, and the flexibility to mobilize funds via a succesful consortium.
Air Incheon is the one air cargo airline in Korea that has obtained a global air transportation enterprise license since its institution in 2012. Since 2022, non-public fairness fund (PEF) Socius Personal Fairness (PE) has been listed as Air Incheon’s largest shareholder. The corporate is engaged in cargo enterprise primarily on Asian routes, together with China. It’s identified that the corporate is looking for to advance into long-distance routes such because the Americas and Europe and strengthen its community by buying Asiana Airways’ cargo enterprise.
Korean Air plans to signal a primary settlement on the market inside subsequent month after agreeing on detailed contract phrases with Air Incheon after which obtain evaluation and approval from the European Competitors Authority.
An official from Korean Air stated, “The choice of the popular bidder was made in complete consideration of all facets to develop the air cargo trade, a key nationwide trade, whereas persevering with to keep up the prevailing aggressive surroundings. “We plan to give attention to concluding the brand new share buy settlement for the airline acquisition,” he stated.
Kim Min-beom, Donga.com reporter [email protected]
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2024-06-17 16:17:32