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LAXintl
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Asiana Founder Buys Airline Back

Thu Sep 24, 2015 12:17 am

Kumho Asiana Group conglomerate chairman Park Sam-koo appears to have reached a deal to buy back Kumho Industrial Co. which owns 30% of Asiana and 46% of LCC Busan Air along with other logistics enterprises from a group of banks.

Deal expected to be completed by end of the year would return Park to 100% ownership of the carriers which were spun off partially in 2009 as part of liquidity crunch at the conglomerate.

Park says regaining full management control of the carriers would allow and encourage the group to further invest in their development.

Kumho Group, creditors get close to agreement on stake sale
http://www.koreaobserver.com/kumho-g...-to-agreement-on-stake-sale-50314/

Park to regain control of Kumho Asiana Group
http://www.koreaherald.com/view.php?ud=20150920000349

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I guess "investment" means more planes, more routes.

Certainly in the longhaul arena OZ has lots of room for growth with a current network significantly smaller than KE.
From the desert to the sea, to all of Southern California
 
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christao17
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RE: Asiana Founder Buys Airline Back

Thu Sep 24, 2015 1:23 am

This will be an interesting shift for the airline. I agree that they have a lot of untapped potential.
More than a dozen years flying in and around Asia...
 
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mercure1
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RE: Asiana Founder Buys Airline Back

Thu Sep 24, 2015 1:35 pm

It would be nice to see further growth in Europe. Only 4 destinations cities in EU, and some like CDG and FCO are not even daily.
With strong regional network OZ could be good Star Alliance option if they only had more flights to reach Asia with.
mercure f-wtcc
 
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LAXintl
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RE: Asiana Founder Buys Airline Back

Thu Sep 24, 2015 10:35 pm

Yes OZ has lots of growth potential in the longhaul arena and also could better leverage Star partnerships.
From the desert to the sea, to all of Southern California
 
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thekorean
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RE: Asiana Founder Buys Airline Back

Thu Sep 24, 2015 11:20 pm

Quoting LAXintl (Reply 3):

They just need more planes.

And I question the potential when it's based in country with less than 100 million people and KE is its competitor, a pretty big boy in Asian aviation.
 
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LAXintl
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RE: Asiana Founder Buys Airline Back

Fri Sep 25, 2015 12:49 am

Quoting thekorean (Reply 4):
And I question the potential when it's based in country with less than 100 million people and KE is its competitor, a pretty big boy in Asian aviation.

Korea might not be a huge nation but it punches far above its weight.

The propensity for air travel continues to rise, the nation now is a top-4 economy in the region and trade/tourism have seen several years of strong growth.

While OZ might not eclipse KE, I dont see a reason why OZ cant continue to grow and why Korea cant have two rather large and strong home grown carriers. One day maybe they will be of equal stature.
From the desert to the sea, to all of Southern California
 
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LAXintl
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RE: Asiana Founder Buys Airline Back

Mon Sep 28, 2015 3:38 pm

Agreement signed. Deal to close by December 30th.

Ex-owner regains Kumho Industrial
http://www.koreatimes.co.kr/www/news/biz/2015/09/123_187520.html

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From the desert to the sea, to all of Southern California

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