Asiana Airlines shareholders approve merger with Korean Air

Asiana Airlines shareholders have approved a merger with Korean Air, concluding a nearly six-year acquisition process. An overwhelming majority of shareholders voted in favor of the deal during an extraordinary meeting held in Seoul.

The acquisition, originally announced in November 2020, is valued at 1.8 trillion won ($1.6 billion). The merger is expected to create the world’s 10th-largest airline by fleet size. The combined entity will operate under the name Korean Air, and the Asiana Airlines name will be retired.

Asiana CEO Song Bo-young stated that the resulting mega-carrier represents a new chapter for South Korea’s aviation industry. Preparations for integrating mileage programs are underway, pending a decision from the Fair Trade Commission. The merged airline is scheduled to launch on December 17.