[Alpha Biz=(Chicago) Reporter Paul Lee] The KRW 1.5 trillion paid-in capital increase for Korean Air's acquisition of Asiana Airlines, scheduled for the end of this month, is expected to be delayed again for more than two years.

According to the airline industry on the 19th, Asiana Airlines is expected to extend the payment date of a third-party paid-in capital increase worth 1.5 trillion won, which was scheduled for the 30th, by three months to the end of September. The paid-in capital increase, pushed by Asiana Airlines, is a key procedure for Korean Air's acquisition of Asiana Airlines. If Korean Air participates in the paid-in capital increase and pays for it, it will secure a 63.9% stake in Asiana Airlines, which will virtually complete the acquisition.

However, the paid-in capital increase plan, originally scheduled for the end of June 2021, has been delayed by three months and has been delayed until June this year for more than two years. This is because the corporate combination review by major rival authorities, a prerequisite for paid-in capital increase, has yet to be completed.

Asiana Airlines' consolidated debt ratio reached 2013% in the first and fourth quarters, which is worse than the previous quarter (1780%).

"Once the paid-in capital increase is completed, an additional 800 billion won will be injected into Asiana Airlines, which will be able to extinguish the urgent fire," an airline industry source said.

 

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