Employees of Asiana Airlines cargo business are increasingly concerned about job security following the sale of the unit to facilitate Korean Air s acquisition of the country s No. 2 carrier, officials said on Friday.
The board of Asiana Airlines, Korea s second-largest air carrier, on Thursday approved a plan to sell the company s cargo business, as Korean Air seeks to win antitrust approval from European Union regulators for its takeover of the rival.
Asiana Airlines is struggling with worsening finances, as the planned acquisition by Korean Air has hit a snag following an unexpected disruption in the cash-strapped airline’s recent board meeting.
Korean Air will delay submission of ammended documents to the European Commission (EC) for the takeover of Asiana Airlines, after the latter s overnight board meeting ended in stalemate, according to company officials Tuesday.