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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]
In November 2020, it was announced that Korean Air would merge with competitor Asiana Airlines, but was switched to only acquire a major stake after the original merger plan was blocked by the United States Department of Justice for monopoly concerns, the acquisition was completed on December 12, 2024. [11] [12]
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 ...
It’s the first big consolidation in the airline industry since the global travel slump began. Korean Air Lines is taking charge at Asiana. It will invest about 1.6 billion dollars to become the ...
Korean Air, which was acquired by Hanjin Transportation in 1969, had a monopoly on the South Korean airline industry until the establishment of Asiana in 1988. [7] Asiana's formation did not come about as a policy initiative favoring liberalized market conditions, but rather because of pressure from other chaebols and interests that wanted to compete. [8]
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 ...
Alaska Air Group expects to grow profits by $1 billion through 2027, and plans to ride the wave of high-end travel demand to get there.. Alaska closed its $1.9 billion acquisition of Hawaiian ...
The airline began its operation in 2007 as Busan International Airlines Company (Korean: 부산국제항공; Hanja: 釜山國際航空); it launched service in October 2008. [3] Air Busan is South Korea's third-largest low-cost airline, carrying 4.5 million domestic and 3.6 million international passengers in 2018.