Korean Air has completed its acquisition of Asiana Airlines, four years after announcing its decision on November 16, 2020.
On Dec. 12, Korean Air acquired 131,578,947 newly issued shares of Asiana Airlines, representing a 63.88% ownership stake and making Asiana Airlines a subsidiary of Korean Air
The completion follows Korean Air’s payment of KRW 800 billion to Asiana Airlines on Dec. 11, concluding the share purchase transaction. This brings the total investment through the third-party allotment capital increase to KRW 1.5 trillion, including the previously paid deposit of KRW 300 billion and interim payment of KRW 400 billion.
Korean Air plans to complete the integration with Asiana Airlines within two years. The integration strategy includes network optimization through diversified flight schedules on overlapping routes, service expansion to new destinations and enhanced safety investments. The merger aims to strengthen national aviation industry competitiveness, enhance Incheon Airport’s hub capabilities and expand global network reach.
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