World News

Korean Air says will sell a property in Seoul, non-core unit

SEOUL (Reuters) – Korean Air Lines <003490.KS> said on Thursday it will sell a property in downtown Seoul and one of its non-core business units in line with its goal of improving financial stability.

The flag carrier, which reported a net loss of 627 billion won ($530.17 million) for the first three quarters of 2019, said it will sell its land and building in the center of Seoul and its stakes in Wangsan Leisure Development, a resort operator in Incheon, South Korea.

(Reporting by Joyce Lee; Editing by Kim Coghill)