Korean Air looks for $1.8 billion in fresh capital

Korean Air is looking to raise $1.8 billion in fresh capital from a combination of issuing new shares and government aid as it seeks to navigate the challenges of Covid-19. The carrier will issue 79 million shares worth $900a million and it has also accepted a similar amount in government aid, extended by the Korea Development Bank and the Export-Import Bank of Korea . The aid is structured in a combination of asset-backed securities, backed by air cargo operations; perpetual bonds embedded with stock conversion rights; and a billion asset-backed loan. ”Korean Air will continue to carry out self-rescue measures to