Asiana Approves Merger with Korean Air... Unified 'Korean Air' to Launch December 17

Asiana Airlines has passed the merger plan with Korean Air at its extraordinary shareholders' meeting.

With the passage of the merger plan at the shareholders' meeting, the corporate combination process between Korean Air and Asiana Airlines, which began in November 2020, has entered the final phase.

Asiana Airlines approved the agenda item for "approval of the conclusion of the merger agreement" as originally proposed during its extraordinary shareholders' meeting today (the 12th).

The attendance rate was 81.9%, and the approval rate was 99.3%.

This agenda item was intended to approve Asiana Airlines being absorbed and merged into Korean Air in accordance with the merger agreement signed on May 14.

The two companies plan to officially launch the unified Korean Air on December 17.

Since formalizing its acquisition of Asiana Airlines in November 2020, Korean Air has been carrying out integration work following corporate combination reviews by domestic and foreign competition authorities.

Asiana Airlines stated, "Following the approval of the merger agreement at the shareholders' meeting, we will thoroughly prepare for all subsequent matters and do our utmost for the successful launch of the unified Korean Air."

Asiana Airlines CEO Song Bo-young remarked, "It has been a long journey spanning over five years since it began in November 2020," adding, "On December 17, we will successfully conclude the corporate combination process with Korean Air and be reborn as a unified Korean Air."

CEO Song further emphasized, "This will be the first step in writing a new history for South Korea's aviation industry as a mega-carrier."

He also conveyed, "We will make efforts to ensure there is no customer inconvenience resulting from the integration."

Regarding the integration of mileage programs with Korean Air in particular, he explained, "We are awaiting the announcement from the Fair Trade Commission" and "we are preparing well."

Korean Air is also scheduled to hold a board of directors meeting to resolve the merger approval agenda.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.