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The merger of Korean Air and Asiana Airlines was a policy announced by the Government of South Korea in November 2020, which resulted in Korean Air absorbing Asiana Airlines creating a dominant carrier in South Korea. [1] The merger was completed on December 12, 2024 following approval from fair-competition authorities globally. [2]
On 16 November 2020, the Government of the Republic of Korea announced a policy of merging Asiana Airlines with Korean Air, which would acquire a 30.77% stake in Asiana from Korea Development Bank. [33] The Korean state-run bank would invest 800 billion won (US$600 million) to Hanjin KAL, the holding company of Korean Air, to fund the merger. [33]
Asiana shares closed almost 30% higher on Monday (November 16), while Korean Air was up over 12%. Korean Air Lines is taking charge at Asiana. It will invest about 1.6 billion dollars to become ...
Asiana will merge with Korean Air, the South Korean Government confirmed, in a $1.6 billion acquisition by the SkyTeam member. [73] After the US Department of Justice approved the merger in December 2024, the merger was completed and Asiana Airlines became a subsidiary of Korean Air. No date was given when the airline will depart Star Alliance ...
In 2023, the airline achieved its best-ever performance, with revenue of $310.9 billion and operating profit of $64.4 billion. Its operating profit margin was also the highest among domestic airlines. [17] As a result of merger with Korean Air, the airline, as well as parent company Air Busan will be integrated with Jin Air, Korean Air's ...
Its monthly utilisation hours for passenger jets nearly doubled to 412 in 2023 from 2022, higher than Korean Air at 332 hours and Asiana Airlines at 304 hours, according to stock exchange filings.
In 2018, Air Busan applied for a preliminary screening for an initial public offering. [6] In 2021, Korean Air's Post Merger Instruction plan for Asiana Airlines was approved by the Korea Development Bank. It includes provisions to merge Air Busan with Korean Air's low cost carrier subsidiary, Jin Air. [7]
Merging money-losing state carrier Malaysia Airlines Bhd (MAB) with budget airline AirAsia Group Bhd is one of the options to "save" them as the COVID-19 crisis batters the industry, Malaysia's ...