Credit Suisse(CS) has been named as the main financial institution to handle the sale of Asiana Airlines.

Kumho Industrial, the biggest shareholder of the country’s second largest airliner, revealed its choice on Thursday, two days after it began to receive applications. 

The company said as soon as a deal is made with Credit Suisse, they will swiftly proceed with the sale of its stake in Asiana Airlines. 

Earlier, Asiana’s creditors led by state-run Korea Development Bank(KDB) reached a deal with Kumho Industrial to provide one-point-six trillion won worth of financial support for the airline, revealing a goal to sell it by the end of the year.