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* The Asiana action has reached its highest level in Intraday since July 2015
* The cash-strapped Kumho Asiana group is working on a new plan (Addition of funds, application for a grant)
SEOUL, April 15 (Reuters) – Asiana Airlines shares in South Korea jumped 30 percent Monday to their highest level in more than three years after the local press reported that its parent company had decided to give up a third of its stake in the carrier.
The sale of the stake was announced after Asiana's creditors last week rejected a restructuring plan drawn up by its parent company, Kumho Asiana, struggling financially.
The leaders of the Kumho Asiana Group and the creditors are negotiating a new restructuring plan since the rejection of the original proposal, two leaders of a large creditor told Reuters.
As part of the dismissed plan, the family-controlled conglomerate had sought financial badistance of 500 billion won ($ 440 million) and would have sold the jewel-crown air unit only if its restructuring had failed after three years.
A group-wide liquidity crisis appeared last month when Asiana and a subsidiary of the group failed to get their annual reports signed by the auditors.
The accounting fiasco threatened Asiana's liquidity position and led the chairman of the Kumho Asiana group to resign from Asiana and another subsidiary.
The parent company is expected to present a new plan after its affiliate Kumho Industrial, the main shareholder of Asiana, held a meeting of the board of directors on Monday, officials said.
Asiana Airlines shares reached their highest level in intraday since July 2015. Kumho Industrial shares also jumped 25%.
The Korea Exchange has asked Asiana and Kumho Industrial to clarify the information provided by the media about the sale of the stake before 6 pm Seoul time (09:00 GMT).
The Korea Economic Daily announced Sunday night that the cash – strapped group had reached an agreement with the creditors for the sale of Kumho Industrial 's 33.5 percent stake in Asiana. The stake would amount to 385 billion won ($ 339 million) based on Friday's closing price.
Park Sam-koo, former chairman of Kumho Asiana Group, is the largest shareholder of Kumho & Company Incorporation, a holding company with a 45% stake in Kumho Industrial.
Na Chul-hee, a spokesman for the Kumho Asiana Group, said Kumho Industrial was planning to hold a meeting of the board of directors Monday morning, but did not provide more details.
Asiana, South Korea's second largest carrier in terms of sales, is struggling to clean up its finances to cope with rising fuel costs and competition from low-cost carriers.
"It's going to be a hot deal because many local conglomerates want to get into the airline business. So we expect a coveted takeover agreement, "said Lee Han-joon, an badyst at KTB Investment Securities.
Shares of Air Busan, Asiana's subsidiary, also jumped 30%. (Report by Ju-min Park and Hayoung Choi, edited by Chris Gallagher)
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