Asiana Airlines raises enough funds this year, removing liquidity concerns
Asiana Airlines raises enough funds this year, removing liquidity concerns
  • Kim Min-jee
  • 승인 2018.12.05 10:40
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Asiana Airlines said on Dec. 4 that it has solved liquidity concerns by preparing all funds for repayment of loans this year.

Asiana Airlines said in a press release on the same day that it raised a total of 457 billion won at the end of last month, including 417 billion won in long-term borrowings, and 23.1 billion won in sales of existing shares following the Asiana IDT's IPO.

Asiana also stressed, “The amount of loans to be matured next year is not high, and it has been reduced sufficiently to be repaid through extension of the deadline and new procurement. All of the liquidity concerns have been resolved.”

Asiana has repaid 1.8 trillion won of its total loans amounting to 2.1 trillion won this year through the sale of Kumho Asiana headquarters, the sale of CJ Logistics shares, and the issuance of convertible bonds and asset-backed securities.

As a result, Asiana`s borrowing was 3.35 trillion won as of last month, down 706 billion won from 4.05 trillion won at the end of last year. Asiana`s cash reserves amounted to 300 billion won as of last month, up 200 billion won from the end of last year.

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