February 6, 2020 / 2:55 AM / in 2 months

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

FILE PHOTO: The logo of Korean Airlines is seen at its aviation shed in Incheon, South Korea, February 27, 2017. REUTERS/Kim Hong-Ji/File Photo

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

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