News
Korean Air to finalise merger with Asiana Airlines by mid-month
December 6th 2024
Korean Air (KAL) has announced it expects to complete acquisition of former rival, Asiana Airlines, on December 11, signing off on a merger initiated four years ago. Read More » KAL will invest 1.5 trillion won (US$1.07 billion) in a third party share issuance by Asiana Airlines to acquire about 131.57 million new shares, or 63.9%, in Asiana, converting it to a subsidiary of the flag carrier, Yonhap Agency reports. KAL’s planned merger has been approved by 13 of 14 competition authorities worldwide with only the U.S. Department of Justice (DOJ) decision pending. If the U.S. does not object to the merger before December 11 it will be considered approved as the DOJ only opposes mergers through law suits.
