SINGAPORE, 13 December 2024: Korean Air has completed its acquisition of Asiana Airlines four years after announcing its decision in November 2020.
Effective 12 December, 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 KRW800 billion to Asiana Airlines on 11 December, concluding the share purchase transaction. This brings the total investment through the third-party allotment capital increase to KRW1.5 trillion, including the previously paid deposit of KRW300 billion and interim payment of KRW400 billion.
Asiana Airlines will hold an extraordinary general meeting of shareholders on 16 January to appoint new board directors nominated by Korean Air.
Korean Air plans to complete the integration with Asiana Airlines over two years. The integration strategy includes network optimisation 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.
The integrated frequent flyer programme framework will be submitted to the Korea Fair Trade Commission by June 2025. Following regulatory review, programme details will be communicated to customers.
About Korean Air
Serving the world for more than 55 years, Korean Air is one of the world’s top 20 airlines, carrying more than 27 million passengers in 2019, pre-Covid. With its global hub at Incheon International Airport (ICN), the airline serves 115 cities in 40 countries on five continents with a modern fleet of 158 aircraft and over 20,000 employees.
