Kumho Asiana Group, is planning initial public offerings (IPOs) in order to raise money as the South Korean company looks to improve the financial structure of its main subsidiary, Asiana Airlines.

Asiana Airlines raised a total of US$413.0 million at the end of November 2018 to pay back its loans for 2018. The funds included $376.8 million by issuing asset-backed securities and another $20.8 million from the sales of shares after the IPO of its IT affiliate, Asiana IDT.

Asiana Airlines’ debts to come due at 2018 were $1.9 billion, however the company paid back $1.6 billion from multiple transactions, including the sale of the headquarters of its parent Kumho Asiana Group, a stake in affiliate CJ Logistics, and the issuance of convertible bonds and asset-backed securities.

A the end of November 2018, Asiana Airlines’ loans came to US$3.0 billion, while its cash reserves landed at $271.1 million.

Kumho Asiana Group is also considering the IPO of Air Busan, with shares listed on the KOSPI market by 2018 end. The LCC plans to set the price for the offering in mid December, and receive subscriptions within one week thereafter.