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Korean Air has sealed a legally binding agreement to sell Air Incheon the freight business of Asiana Airlines for 470 billion won in a move to finalize their merger.
Korea's largest budget carrier withdrew from the bidding, which ended on Thursday as Korean Air inches closer to its merger with the No. 2 airline.
Jeju Air, Air Premia, Eastar Jet and Air Incheon all submitted letters of intent as Korean Air seeks to offload the division in order to complete its Asiana takeover.
Korea JoongAng Daily Sitemap