The government of https://air-miles-guide.com/countries/south-korea/ South Korea and the Korea Development Bank (KDB) announced the acquisition of Asiana Airlines by Korean Air on 16 November. The $1.6 billion transaction, which also included the low-cost regional carrier Air Busan, partially owned by Asiana Airlines, and the fully-owned low-cost Air Seoul, was approved by the Korean Air Board of Directors.
Korean Air is the main South Korean flag carrier and airline. The South Korean government expects Korean Air to become one of the world's 10 largest airlines once the acquisition is completed.
The KDB supported the merger of Korean Air and Asiana Airlines and added: "Through the launch of an integrated national airline, we will try to strengthen the fundamental competitiveness of the domestic aviation industry."
Asiana Airlines, the second largest airline in the world, was troubled by financial problems that prompted Kumho Industrial's parent company to position its 31 percent stake up for sale at the end of 2019 as it came under creditor pressure.
Korean Air is the main South Korean flag carrier and airline. The South Korean government expects Korean Air to become one of the world's 10 largest airlines once the acquisition is completed.
The KDB supported the merger of Korean Air and Asiana Airlines and added: "Through the launch of an integrated national airline, we will try to strengthen the fundamental competitiveness of the domestic aviation industry."
Asiana Airlines, the second largest airline in the world, was troubled by financial problems that prompted Kumho Industrial's parent company to position its 31 percent stake up for sale at the end of 2019 as it came under creditor pressure.
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