Friday, September 9, 2016

KOREAN AIR DELAYS HANJIN FUNDING DECISION

Korean Air Lines delays decision on funding plan for Hanjin Shipping

[SEOUL] Korean Air Lines, the biggest shareholder in Hanjin Shipping, on Friday delayed a decision on a funding plan for the troubled carrier.
"We haven't reached a conclusion at today's board meeting, so we have decided to discuss the matter again tomorrow," a spokesman for the airline said.
Hanjin's parent firm, Hanjin Group, earlier pledged to raise 100 billion won (S$121.22 million) in funds to help rescue cargo, which is stranded at sea following the failure of the world's seventh-largest container carrier.
REUTERS