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UBS announces shortlist for Asiana‘s cargo business

Collected: 2024.03.06

Distributed: 2024.03.07

Source: Go Direct

[Photo by MK DB]

Four low-cost carriers made it onto a shortlist of potential buyers for the cargo business of Asiana Airlines Inc., one of South Korea’s flag carriers.

Sources familiar with the news said on Tuesday that UBS Group AG, which is responsible for the sale of the cargo unit, announced the shortlist and informed each candidate of their appointment. The four candidates, Jeju Air Co., Air Premia Inc., Eastar Jet, and Air Incheon, had previously submitted a letter of intent (LOI) during the preliminary bid for the cargo division.

Korean Airlines Co. and UBS will visit each candidate on-site for a month to select a preferred bidder during the final bidding for Asiana Airlines’ cargo business, which begins in April 2024.

By Cho Yun-hee and Han Yubin

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