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[Alpha Biz=(Chicago) Reporter Paul Lee] Asiana Airlines' board of directors failed to decide whether to sell its cargo business on the 30th.
As a result, Korean Air, which has to submit its final corrective action to the European Commission this month, is in a hurry. Asiana's board of directors will soon hold another meeting and continue the remaining discussions.
According to the airline industry on the 31st, Asiana Airlines held a temporary board meeting on the same day and discussed whether Korean Air would agree to corrective measures to be submitted to the EC in connection with the review of the business combination.
Specifically, it is whether Asiana will sell its cargo business. EC believes that the merger of Korean Air and Asiana will limit competition on cargo routes between Korea and Europe, and calls for a resolution.
Asiana's board of directors gathered somewhere in Seoul at 2 p.m. to enter the meeting. It was expected to be concluded soon as opinions were exchanged in advance, but the marathon meeting continued until late at night.
In the end, the meeting was adjourned without reaching a conclusion around 10 p.m.
"The board of directors has not concluded the approval or rejection," an Asiana official said. "It will be held again later." The date and place are up in the air.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
