Asiana slashes holding debt by 866 billion wonAsiana Airlines announced Monday that it reduced its holding debt by 865.6 billion won ($780 million) from the end of last year to 3.19 trillion won as of August.
Last year, its debt surpassed 4 trillion won.
The improved finance was largely due to cash generated by its airline operations as well as non-business asset sales, the airline said.
The company hopes to cut its holding loans to less than 3 trillion won by the end of this year by initial public offering of its budget airline affiliate and by issuing perpetual bonds.
By Kim Jee-hee