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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 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 ...
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 Airlines merged with Korean Air in December. Lufthansa's more than two dozen 747 jets are expected to cover 21 routes from Frankfurt in 2025, totaling about 12,000 flights, per Cirium. That ...
Shares in Asiana Airlines Inc <020560.KS> soared on Friday on prospects that the owner of larger rival Korean Air Lines Co Ltd <003490.KS> could buy a hefty stake in the debt-laden, pandemic-hit ...
In November 2020, it was announced that Korean Air would merge with competitor Asiana Airlines, but was switched to only acquire major stake after the original merger plan blocked by United States Department of Justice for monopoly concerns, the acquisition was completed on December 12, 2024.
Before 2000, Korean Air and Asiana Airlines were the two main airlines operating in South Korea. In mid-December, Korean Air completed a $1.3 billion acquisition of Asiana Airlines, marking a new ...