Kumho Asiana Group’s creditors have reportedly named two accounting and consulting firms, PricewaterhouseCoopers Korea and Deloitte Anjin LLC, to commence due diligence of the conglomerate’s two subsidiaries, Kumho Industrial Co and Kumho Tire (heraldm, 20-Jan-2010). Creditors of Kumho Asiana Group, which is the the nation's ninth-largest conglomerate, are also advising that Asiana Airlines and Kumho Petrochemical be included in the creditor-led restructure programme, but have faced opposition from the company. Details of the debt workout-plan is expected in Feb-2010.
Creditors seeking Asiana Airlines to be part of a creditor-led restructure
You may also be interested in the following articles...
S7 Airlines Part 1: Russia's #2 airline's main focus is domestic, with pockets of strength in Asia
S7 Airlines, together with its subsidiary Globus, achieved a 19% increase in passenger numbers in the first eight months of 2016. Passengers flying the S7 brand totalled 10.6 million in 2015, making it Russia's second biggest airline after Aeroflot (thanks also to the collapse last year of former number two Transaero). This first part of CAPA's report examines S7's current network. A second part will analyse its growth, fleet and financial track record.
Moscow Domodedovo is S7's biggest airport and its main hub for the domestic market, which accounts for around two thirds of its seat capacity. Domodedovo is also its hub for international routes to Europe (mainly Eastern and Central Europe). Although it is the biggest airline at this airport, on a city pair basis on many routes from Moscow there is significant competition from the market leader Aeroflot, whose main hub is Sheremetyevo.
However, S7 also has a noteworthy network to cities in Northeast and Southeast Asia from regional airports elsewhere in Russia, in particular Novosibirsk and Vladivostok. Competition on these Asian routes is much less severe: indeed, S7 is the only operator on the majority of its routes to NE/SE Asia and its position is further boosted by codeshares (including with Aeroflot).
Northeast Asian airlines seek India connections to diversify away from SE Asia, China competition
Aviation has yet to define India’s role in the trans-Pacific growth story. Geography allows connections from North America to India via Europe, the Gulf and – more quietly – Northeast Asia. Northeast Asian airlines have a theoretical advantage linking India with the North American west coast. The challenge they face is fitting a square peg into a round hole.
The presence of Northeast Asian airlines is large in North America but small in India, while Southeast Asian airlines are small in North America but large in India. Cathay Pacific, and to a lesser extent All Nippon Airways, are in the strategic sweet spot, relatively. Growing China-India relations could result in Chinese airlines playing a larger role in this market. The different transit regions available mean that there is competition between partnerships and joint ventures. These pressures could grow as the Indian market continues expanding.