Korean Air to complete acquisition of Asiana Airlines in 2023: CEO

Korean Air to complete acquisition of Asiana Airlines in 2023: CEO

The Korean flag service’s CEO (CEO), Walter Cho, stated in a letter to workers that Korean Air is within the closing section of finishing its acquisition of native rival Asiana Airways and is predicted to shut the deal in 2023.

New Yr’s message to Korean Air staff seen by the Seoul-based information company Yonhap NewsAfter finishing the takeover in 2023, Cho stated he plans to begin the mixed air service in 2024, along with decreasing route enlargement and plane upkeep prices.

“We have to analyze which locations clients choose after they proceed their journey after the pandemic and what inflight companies they need as a wave of reopening,” the CEO stated.

The South Korean government first announced its intention to unify. korean weather and Asia In November 2020, Korean Air is making ready to accumulate an estimated 31% stake in Asiana. In March 2021, nevertheless, the merger was delayed because the deal didn’t obtain the mandatory approvals from international antitrust authorities.

Whereas the takeover was additional delayed, South Korea confirmed the takeover on February 22, 2022. The $1.6 billion deal is predicted to create a brand new airline that may function roughly 60% of worldwide routes to and from South Korea and supply regional connectivity. companies and cargo routes within the Asia-Pacific area.

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