Korean Air submits post-merger integration plan to KDB

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Korean Air submits post-merger integration plan to KDB

Korean Air Liens and Asiana Airlines aircraft parked at Incheon International Airport last week. [NEWS1]

Korean Air Liens and Asiana Airlines aircraft parked at Incheon International Airport last week. [NEWS1]

 
Korean Air Lines on Wednesday submitted a post-merger integration plan to the Korea Development Bank (KDB) for its acquisition of Asiana Airlines.
 
KDB is expected to confirm the plan after reviewing it for around a month.
 
Maintaining the employment of Asiana Airlines workers and managing the integration of Asiana Airlines’ low-cost carriers like Air Busan and Air Seoul with Jin Air, another budget carrier that is 56.38 percent owned by Hanjin KAL, are some of the plans Korean Air Lines is expected to have included, according to local media reports.  
 
Korean Air Lines announced it would acquire Asiana Airlines with the help of the state-run KDB last November.
 
Though airlines have faced major setbacks due to the pandemic, they have enjoyed an air cargo transportation boom, which may continue with the global transportation of vaccines.
 
BY JIN MIN-JI [jin.minji@joongang.co.kr]
 
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