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Korean Air mulls 1 tln-won stock offerings to tide over virus impact: sources

All News 13:47 April 20, 2020

SEOUL, April 20 (Yonhap) -- Korean Air Lines Co., South Korea's biggest carrier, is considering stock offerings worth up to 1 trillion won (US$820 million) as part of self-help measures amid the growing coronavirus impact on the airline sector, financial sources said Monday.

Korean Air is in talks with major securities companies to raise up to 1 trillion won by selling new shares, an investment bank official familiar with the matter told Yonhap News Agency.

"Stock offerings are one of various options the company is considering (to ride out the coronavirus crisis)," a company spokeswoman said by phone.

The company, however, didn't confirm a potential capital increase with consideration.

Korean Air has suspended most of its flights on international routes as an increasing number of countries close their borders or take further measures against incoming passengers.

This file photo shows Korean Air aircraft at Incheon International Airport, west of Seoul. (Yonhap)

kyongae.choi@yna.co.kr
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