South Korea’s flag carrier Korean Air Lines has acquired a controlling stake in Asiana Airlines, combining the country’s biggest and second-largest airlines.

Korea's only dedicated cargo airline Air Incheon is preparing to launch a unified operation next July following its acquisition of Asiana Airlines' cargo division with Kim Kwan-sik appointed CEO to lead the effort.

Korean Air, South Korea's biggest airline, has successfully integrated local rival Asiana Airlines as a subsidiary, wrapping up a years-long acquisition process, the company said on Thursday.

Korean Air’s ambition to acquire the debt-laden Asiana Airlines was first announced in November 2020. Asiana Airlines, severely impacted by the COVID-19 pandemic, was unable to recover from its financial crisis.

Surprisingly, American Airlines operates just one route to South Korea, connecting Seoul Incheon International Airport (ICN) with its hub at Dallas/Fort Worth International Airport (DFW). On this route, the oneworld carrier competes with Korean Air.

Korean Airlines acquires Asiana Airlines as U.S. regulators grants approval after 4 years, making this the longest M&A deal on record.

Photo Credit: Thiago B Trvisan/Shutterstock Korean Airlines has completed its acquisition of Asiana, South Korea's second-largest carrier. The $1.3 billion deal, which gives Korean a 64% stake in Asiana, came four years after the airlines reached a ...

Air Incheon appointed Kim Kwan-sik as its new CEO, leveraging his financial expertise for the airline’s smooth and timely acquisition of Asiana Airlines’ cargo business, industry officials ...

Seoul, South Korea — South Korea’s flag carrier Korean Air said Thursday it had bought a majority stake in rival Asiana Airlines for $1 billion, making it the effective owner four years after ...

Going forward, the Korean/Asiana merger means Asiana will be run as a subsidiary with a separate brand for at least two years before integrating into one airline that retains the Korean Air name as outlined in the mergers and acquisition timeline parameters.

Asiana Airlines is accelerating its efforts to improve its financial structure by repaying 1.1 trillion won in policy funds. On the 13th, Asiana Airlines announced that it would early repay 1.04 trillion won in borrowing funds to creditor banks (Industrial Bank of Korea and Export-Import Bank of Korea) on that day,

In a boost for state-wide tourism and trade, non-stop flights from South Korea to Melbourne Airport will again be available this summer on Asiana