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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 Airlines subsidiary Asiana Airlines: AAR: OZ: ASIANA: Gimpo International Airport Incheon International Airport: 1988: Star Alliance: Merged with Korean Air in 2024 Eastar Jet: ESR: ZE: EASTARJET: Gimpo International Airport: 2009: U-FLY Alliance: Jeju Air: JJA: 7C: JEJU AIR: Jeju International Airport Incheon International Airport: 2005 ...
Korean Air Lines Co., Ltd. (KAL; Korean: 주식회사 대한항공; RR: Jusikhoesa Daehan Hanggong, lit. ' Joint stock company [of] great Korean aviation ') is the flag carrier of South Korea and its largest airline based on fleet size, international destinations, and international flights.
It was the first fatal flight for Jeju Air, a low-cost airline founded in 2005 that ranks behind Korean Air Lines and Asiana Airlines as the country's third largest carrier by passenger numbers.
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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]