THE KOREA ECONOMIC DAILY, GLOBAL EDITION

Creditors of Asiana Airlines Inc. have decided to place the financially troubled carrier under their control after officially declaring the collapse of a deal to sell the company. The creditors also plan to funnel as much as 2.4 trillion won ($2 billion) from a state fund into Asiana to keep it afloat before seeking another buyer.

After a government-led meeting held on Sept. 11 on the fate of Asiana, Finance Minister Hong Nam-ki and other officials agreed to place the carrier under the control of its creditors -- the state-run Korea Development Bank (KDB) and the Export-Import Bank of Korea. After graduating from a creditor-led debt workout in December 2014, Asiana is returning to their receivership for restructuring.

Asiana and its current owner, Kumho Industrial Co., a construction unit of Kumho Asiana Group, has notified HDC Hyundai Development Co., the preferred negotiator, of their decision to terminate the deal.

selee@hankyung.com