April 16, 2019 / 4:00 AM / 4 days ago

Asiana Airlines creditors to come up with financial support plan by April 25-KDB

SEOUL, April 16 (Reuters) - Creditors of Asiana Airlines aim to come up with a financial support plan for the debt-laden South Korean carrier by April 25 to help relieve its liquidity problems, the chairman of its main creditor, Korea Development Bank, said on Tuesday.

KDB Chairman Lee Dong-gull also told a briefing the creditors plan to sign a preliminary deal on the support measures in late April or early May.

Kumho Industrial, the top shareholder of Asiana, said on Monday that it plans to sell its entire 33.5 percent stake, worth 500 billion won ($440.08 million) at the closing price, as the cash-strapped airline seeks creditor support.

Lee said it is “desirable” that Asiana should also sell its units, which include two budget carriers, Air Busan and Air Seoul. ($1 = 1,136.1600 won) (Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)

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