[Featured Stock] Asiana Airlines Soars 20% Ahead of Board Meeting on 'Cargo Business Sale'

On the 30th, Asiana Airlines' stock price showed strength in the early session.

As of 9:25 AM, Asiana Airlines' stock price was trading at 11,420 KRW, up 18.46% compared to the previous close.

Asiana Airlines plans to hold a board meeting at 2 PM to decide on the agenda of separating and selling its cargo business. For the merger between Asiana Airlines and Korean Air to be approved, consent is required from 14 countries. The European Union (EU) has expressed concerns that the merger could limit competition in cargo transport to Europe and on four passenger routes including Incheon-Paris, and has therefore demanded the sale of the cargo business as a condition.

Korean Air will also hold a board meeting this morning to discuss the acquisition of the cargo business.

Korean Air's stock price is trading at 20,050 KRW, up 1.93%, and Korean Air Preferred shares are trading at 24,750 KRW, up 14.85%.