A trusted source of Asia-Pacific commercial aviation news and analysis

JUNE 2024

Week 25


Korean Air chooses Air Incheon as preferred bidder for Asiana Airlines cargo arm

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June 18th 2024

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Korean Air (KAL) has named Air Incheon as its favoured buyer of Asiana Airlines' cargo freighter business. Read More » Asiana's divestment of its cargo operations was a condition the European Commission (EC) attached to its February approval of KAL's takeover of South Korea’s second international carrier. KAL expects to sign a framework agreement with Air Incheon by July after the parties reach consensus on the conditions of sale. “Korean Air selected Air Incheon as preferred bidder based on several key criteria: certainty of completing the transaction, the ability to maintain and enhance the long-term competitiveness of the air cargo business and the all-cargo carrier’s capability to mobilise funds through a competent consortium,” KAL said. It is planned “Air Incheon will strengthen its competitiveness by utilising the long-haul Asiana network to the Americas and Europe”, KAL said. The acquisition is subject to EC review.

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