S Korean Kumho Asiana Group to sell airline unit if revival plans fail

S Korean Kumho Asiana Group to sell airline unit if revival plans fail

Visual from Kumho Asiana Plaza website.

Kumho Asiana Group has told its main creditor that it will actively cooperate in selling crown jewel Asiana Airlines Inc should the South Korean conglomerate fail to implement its restructuring plan over the next three years.

The pledge was made in a revamp plan that Kumho Asiana submitted to creditor Korea Development Bank (KDB), and which included a request for financial support of 500 billion won ($439.11 million), KDB said in a statement on Wednesday.

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