Asiana slashes holding debt by 866 billion won

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Asiana slashes holding debt by 866 billion won

Asiana 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
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