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Korean
Air to launch integrated airline in December 2026
By Lee
Min-hyung, The Korea Times - Korean Air will launch its integrated flag carrier
on Dec. 17, after completing all legal procedures for its high-profile
acquisition of Asiana Airlines, the boards of the two companies said Wednesday.
The
agreement follows the initial share subscription agreement signed in November
2020. Korean Air will absorb all Asiana Airlines assets, liabilities, rights,
obligations and personnel for the full-scale integration of the two carriers.
The
merger ratio has been set at 1 share of Korean Air to 0.2736432 shares of
Asiana Airlines.
Earlier,
the Korean government and state-led creditors provided 3.6 trillion won ($2.42
billion) in liquidity support to cash-strapped Asiana following the outbreak of
the COVID-19 pandemic.
Korean
Air managed Asiana’s financial and operational restructuring during the
acquisition process, which also included full public fund repayment.
Following
Korean Air’s contract execution slated for Thursday, the carrier will submit a
merger application to the Ministry of Land, Infrastructure and Transport.
Once
domestic approvals are finalized, Korean Air will proceed with sequential
regulatory filings with international aviation authorities to align safety
management systems and operational protocols across the expanded global
network.
"The integration will elevate Korean Air’s global market presence and establish Incheon International Airport as a dominant global hub through optimized network connectivity and increased transit efficiency,” a Korean Air official said.
The
company is on track to finalize the consolidation of its loyalty programs,
including the integration of mileage systems from both carriers, in
coordination with the Fair Trade Commission and relevant authorities to ensure
a seamless transition for passengers.
On top
of that, Korean Air is upgrading services and facilities ahead of the launch of
the integrated carrier.
The
carrier recently upgraded its lounges at Incheon International Airport, while
training flight crew members to ensure procedural consistency across both
airlines. The company is also modernizing facilities, including cabin crew
training centers, to manage increased volume following the integration.
