[Alpha Biz= Kim Jisun] Korean Air will officially relaunch as an integrated carrier on December 17 after completing its merger with subsidiary Asiana Airlines, marking the culmination of a two-year integration process since its acquisition in December 2024.

Both airlines announced on May 13 that their respective boards approved the merger agreement, with the formal contract set to be signed on May 14. The merger will take effect on December 16, with the unified Korean Air launching the following day.

As a result, the Asiana Airlines brand will be discontinued after 38 years since its founding in 1988, transitioning fully into the Korean Air identity. Integration of low-cost carriers—including Korean Air’s Jin Air and Asiana’s subsidiaries Air Busan and Air Seoul—is expected to follow in the first quarter of next year.

Under the merger, Korean Air will assume all assets, liabilities, rights, obligations, and employees of Asiana Airlines. The merger ratio has been set at 1:0.2736432 (Korean Air to Asiana), based on market valuation standards.

The combined entity will operate more than 200 aircraft and employ approximately 25,000 staff, positioning it among the world’s top 10 airlines by passenger capacity as a mega carrier.

Korean Air plans to proceed with regulatory approvals, including modifications to its Operations Specifications (OpSpecs), to integrate Asiana’s aircraft and safety systems into its existing Air Operator Certificate (AOC). The airline will apply for merger approval from the Ministry of Land, Infrastructure and Transport immediately after signing the agreement and submit additional safety-related approvals in June.

Following domestic approvals, Korean Air will also seek necessary clearances from overseas aviation authorities.

Meanwhile, Asiana Airlines plans to hold an extraordinary shareholders’ meeting around August to approve the merger. Korean Air, qualifying for a simplified merger process, will replace a shareholder vote with a board resolution.

 

 

[ⓒ 알파경제. 무단전재-재배포 금지]