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Korean Air to spend $1.6 billion to become Asiana Airlines' top shareholder | Reuters
SEOUL (Reuters) - Korean Air Lines Co Ltd 003490.KS plans to spend 1.8 trillion won ($1.62 billion) to become the top shareholder of indebted Asiana Airlines Inc 020560.KS,
in aviation's first major consolidation since COVID-19 brought the industry to its knees.
Korean Air - controlled by Hanjin Kal 180640.KS - said it will buy 1.5 trillion won of new Asiana shares giving it a 63.9% stake, and 300 billion won worth of Asiana's convertible bonds.
SEOUL (Reuters) - Korean Air Lines Co Ltd 003490.KS plans to spend 1.8 trillion won ($1.62 billion) to become the top shareholder of indebted Asiana Airlines Inc 020560.KS,
in aviation's first major consolidation since COVID-19 brought the industry to its knees.
Korean Air - controlled by Hanjin Kal 180640.KS - said it will buy 1.5 trillion won of new Asiana shares giving it a 63.9% stake, and 300 billion won worth of Asiana's convertible bonds.