South Korea's two state-owned banks said on Tuesday they will provide up to 1.7 trillion won ($1.4 billion) in fresh liquidity to Asiana Airlines , the country's second-largest carrier, as the industry struggles with the coronavirus crisis.
FILE PHOTO: An Asiana Airlines Boeing 747-400 taxis at San Francisco International Airport, San Francisco, California, February 7, 2015. REUTERS/Louis Nastro/File Photo
The loans are expected to keep the loss-making carrier going as Asiana awaits the completion of its acquisition by a consortium led by a South Korean builder, signed in December. A consortium led by Hyundai Development Co in December had signed a deal to acquire a controlling stake in Asiana at 2.5 trillion won.
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.
South Korea looking into reports about Kim Jong Un's healthSEOUL, South Korea (AP) — The South Korean government on Tuesday was looking into U.S. media reports saying North Korean leader Kim Jong Un was in fragile condition after surgery. Officials...
Read more »
South Korea looking into reports about Kim Jong Un’s healthThe South Korean government is looking into U.S. media reports that North Korean leader Kim Jong Un was in fragile condition after surgery
Read more »
South Korea says North Korea's Kim is not seriously ill: YonhapNorth Korean leader Kim Jong Un was not seriously ill, South Korea's Yonhap news agency said citing a government official on Tuesday, contradicting a CNN report he was in 'grave danger' after a surgery.
Read more »
South Korea set to post largest GDP contraction since 2008: Reuters pollSouth Korea's economy likely shrank at its sharpest pace since 2008 in the first quarter as the coronavirus health crisis ravaged business activity and global demand, a Reuters poll showed on Tuesday.
Read more »