SEOUL: Asiana Airlines said on Tuesday (Oct 31) it would reconvene a board meeting in early November to decide whether it should accept prospective buyer Korean Air's proposal that includes the sale of its cargo operations over EU antitrust concerns.
"A board meeting that is now in recess will resume in early November and make a final decision," Asiana said in a statement.
South Korea's biggest carrier Korean Air planned to submit corrective action plans to the European Commission by the end of October to gain European Union antitrust approval over a proposed takeover of its smaller rival Asiana, a source familiar with the matter told Reuters earlier this month, though that timing could slip.
Yonhap said that since Asiana's board had dragged out its decision, Korean Air's submission to the EC would be delayed. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asiana Airlines shares jump ahead of board meeting on merger with Korean AirSEOUL : Shares in South Korea's Asiana Airlines rose as much as 24 per cent on Monday, backed by expectations that a proposed merger with Korean Air Lines would proceed as board members met to decide whether to sell off its cargo service.
Read more »
Asiana Airlines board to meet again on Thursday on sale of cargo business -YonhapSEOUL : Asiana Airlines plans to convene a board meeting again on Thursday, after it failed to decide in an earlier meeting whether to accept Korean Air's proposal to sell its cargo operations, Yonhap reported on Tuesday.
Read more »
South Korean night-life district mourns dead a year after Halloween crushSEOUL – A year after 159 Halloween revellers were killed in a crowd crush in South Korea, the capital’s night-life district of Itaewon was quiet on Saturday, the area’s usual festivities replaced by mourning for those died. In the days before Halloween, seasonal...
Read more »
Parasite actor Lee Sun-kyun submits drug test samples to South Korean policeThe 48-year-old South Korean actor tested negative in a rapid drug test that was taken on Saturday. Read more at straitstimes.com.
Read more »
US, South Korea hold joint air exercises with 130 warplanesSEOUL: The United States and South Korea began major air exercises on Monday (Oct 30), involving 130 warplanes from both countries to simulate 24-hour wartime operations.
Read more »
Air quality worsens in India's capital despite government effortsNEW DELHI: The air quality in India's capital worsened on Monday (Oct 30), with pollution levels rising to the highest this year, as low cool-season winds and more burning of stubble in neighbouring states combined to usher in
Read more »