(MENAFN) Korean Air plans to sell USD3.3 billion worth of its assets in order to repay its burgeoning debt pile, according to Oman Observer.
Korean Air, South Korea"s biggest airline, plans to halve halve its 800 per cent debt to assets ratio by 2015.
The airlines has signed a joint venture with S-Oil Corp to sell the latter USD2 billion worth shares.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.