Korean Air to take over rival Asiana

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Korean Air to take over rival Asiana

Postby Greg on Mon Nov 16, 2020 11:08 am

n a major shake-up of the country’s airline industry, the owner of South Korea’s flag carrier Korean Air has announced a W1.8 trillion ($1.62 billion) takeover bid for embattled rival Asiana Airlines.

Korean Air and parent Hanjin KAL made the decision to “stabilise the Korean aviation industry”, which, like many others around the world, has acutely felt the impact of the coronavirus outbreak.

Post-merger, which will also see consolidation among both carriers’ low-cost units, Korean Air states that it will be “one of the top 10 airlines” in the world according to size, allowing it to compete more effectively with regional rivals.

[url=https://www.flightglobal.com/airlines/korean-air-to-take-over-rival-asiana/141136.article]Flight Global [\url]
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