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Minister Urges Industry Efforts on Aviation M&As

Write: 2020-07-03 16:51:03Update: 2020-07-03 16:55:43

Minister Urges Industry Efforts on Aviation M&As

Photo : YONHAP News

Transport Minister Kim Hyun-mee on Friday met with former and incumbent aviation industry leaders and asked for efforts to facilitate mergers and acquisitions of airlines that are currently under way.

According to the ministry, Kim met with Hyundai Development Company Group Chairman Chung Mong-gyu, Aekyung Group Vice Chairman Chae Hyung-seok and ruling Democratic Party lawmaker Lee Sang-jik, who founded budget airline Eastar Jet. 

During the meetings, the minister was briefed on progress on M&As and urged efforts so the corporate mergers can proceed as planned for the purpose of employment stability and advancement in the aviation sector.

She called on related parties to lay out clear, acceptable alternative options and work toward clinching responsible deals.

Kim also promised government support for firms expressing the will to take over other airlines. 

The latest encouragement comes as M&A negotiations among carriers have all come to a halt amid the coronavirus pandemic.

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