Asiana Airlines is expected to be up for sale as early as Thursday. 

Kumho Industrial, Asiana’s biggest shareholder, and the airline’s credit holders plan to start the sale process on Thursday or Friday. They are looking to find a buyer and sign a main contract by the end of this year. 

Market observers presume it will take one trillion won to two-point-five trillion won to buy South Korea's second largest airline. Some local conglomerates are being mentioned as potential bidders, including SK, Hanwha, CJ and Aekyung. 

Earlier this year, the Asiana's creditors led by the state-owned Korea Development Bank(KDB) decided to provide one-point-73 trillion won in financial assistance to help normalize the cash-strapped airline, setting a goal to sell it by year-end.