Korean Air Lines Co., the nation’s biggest carrier, said it will sell assets to raise 3.5 trillion won ($3.3 billion) to reduce its burgeoning debt.
Korean Air Lines Co., the country’s biggest carrier, agreed to buy $3.7 billion of aircraft from Boeing Co. to modernize its fleet amid growing travel demand.
Korean Air Lines Co. pledged to hold its stake in Ceske Aerolinie AS for five years, while CSA’s majority owner will refrain from making “significant” changes in its strategy, according to terms of this week’s sale.
Korean Air Lines Co. dropped the most in two years in Seoul trading on concerns the company may provide further funding to its affiliate Hanjin Shipping Co.
Park Sun Young, who’s flown with her family on Asiana Airlines Inc. between Seoul and New York twice in the past two years, is changing airline allegiances.