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(Photo = Asiana Airlines) |
[Alpha Biz= Reporter Kim Jisun] The Asiana Airlines Pilots' Union has filed for a court injunction to suspend the board’s resolution approving the sale of Asiana’s cargo division, a move undertaken as part of the merger with Korean Air.
On October 28, industry sources reported that the union submitted an injunction request to the Seoul Southern District Court, seeking to nullify the November 2023 Asiana board decision to sell its cargo division. The union claims that the voting participation of outside director Yoon Chang-bum, an advisor at Kim & Chang law firm, was inappropriate. Since Kim & Chang provided legal counsel for the merger between Korean Air and Asiana, the union argues Yoon’s involvement might have favored Korean Air.
The European Commission previously approved the merger on the condition that the cargo division be sold and certain European routes relinquished. Air Incheon, selected as the preferred bidder, aims to complete the acquisition by mid-2025 and commence operations on July 1.
On the same day, the Pilots' Union, along with the General Union, also filed an administrative appeal at the Seoul Administrative Court, requesting that Korean Air disclose the Post-Merger Integration (PMI) plan submitted to the Korea Development Bank (KDB). The unions explained that prior requests for information had been denied on the grounds that the PMI contained private contractual details that could impact stock prices.
Earlier, the Pilots' Union had raised merger-related concerns with the European Commission’s Merger Task Force in Brussels in July and, in August, requested an investigation into Air Incheon’s suitability as a buyer.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
