Korean Air ABS set to fly

Korean Air Lines (KAL), Korea's largest air carrier and part of the Hanjin Group, is set to make its first foray into the asset-backed securitization (ABS) market with a deal worth up to $300 million, say bankers familiar with the transaction. Although the bank declined to comment, it is widely known that SG has been selected as arranger and bookrunner, with an as yet unknown domestic Korean house employed in a supporting role.