Korean Air completed the acquisition of Asiana Airlines on December 12, 2024, acquiring 63,88 percent of the competitor's shares. This transaction represents an important milestone for the Korean aviation industry after the acquisition was announced in November 2020. The purchase was completed by a payment of KRW 800 billion from Korean Air to Asiana Airlines on December 11, 2024, with the capital increase totaling KRW 1,5 trillion resulting in a full acquisition.
In the next step, Korean Air plans to integrate Asiana Airlines within the next two years. This will include optimizing the route network and expanding the global reach. An important part of the strategy is also the expansion of frequent flyer programs and increased investment in security infrastructure. An extraordinary shareholders' meeting of Asiana Airlines is scheduled for January 16, 2025 to elect new board members.
The takeover is to take place without any personnel restructuring, although there will be a natural increase in personnel within the merged company due to business expansion.
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