The Korean government said it would work to “minimize the monopoly” resulting from a proposed merger between Korean Air and Asiana Airlines.
Korean Air's merger with Asiana Airlines is on track to proceed without an external hitch, but internal issues including customer mileage integration and Asiana's financial woes, present hurdles.
Korean Air's $1.1 billion takeover of Asiana Airlines received final EU approval, marking a significant merger in the aviation industry. The deal aims to create the world's seventh-largest airline.
Korean Air Lines' president remains positive regarding the company's takeover of Asiana Airlines, which is currently waiting for its last approval from the United States.
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.
The French aviation authority have opposed T'way Air's assumption of Korean Air's Paris route, dealing a blow to compliance with the European Commission's stipulations for the flag carrier's merger with Asiana.
Emart, a leading hypermarket chain, has merged with its subsidiary, Emart Everyday, in an effort to cut costs amid mounting losses.
The Korean government has been ordered to pay $32.03 million to the New York-based hedge fund Mason Capital Management as an international tribunal partially upheld the hedge fund’s $175 million damage suit.
The president has vowed to mitigate consumer concern over the discrepancy in mileage earning with the progressing merger of Korea's two biggest airlines, with Korean Air's points harder to accrue than Asiana's.
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
