Asiana Airlines Passes Merger with Korean Air... "New Chapter for Mega Carrier"

Asiana Airlines has passed the merger bill with Korean Air at its extraordinary general meeting of shareholders.

With the passage of the merger bill at the shareholders' meeting, the corporate integration process between Korean Air and Asiana Airlines, which began in November 2020, has entered its final stage.

Asiana Airlines announced that the agenda item for "approval of the conclusion of the merger agreement" was passed as originally proposed at its extraordinary shareholders' meeting today (August 12).

The attendance rate was 81.9%, and the approval rate stood at 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 airlines plan to officially launch the integrated Korean Air on December 17.

Since officially announcing its acquisition of Asiana Airlines in November 2020, Korean Air has proceeded with the integration process following business combination reviews by domestic and international competition authorities.

Asiana Airlines stated, "With the approval of the merger agreement at the shareholders' meeting, we will thoroughly prepare all related matters and do our best for the successful launch of the integrated Korean Air."

Asiana Airlines CEO Song Bo-young said, "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 the integrated Korean Air."

He went on to emphasize, "This will be the first step in writing a new history for South Korea's aviation industry as a mega carrier."

CEO Song stated, "We will make efforts to ensure there is no customer inconvenience resulting from the integration."

In particular, regarding the integration of mileage programs with Korean Air, he noted, "We are waiting for the announcement from the Fair Trade Commission," and added, "We are preparing well."

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

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