Korean Air Group
Originally commencing operations in 1962, Korean Airlines is the flag carrier of South Korea. The carrier operates an extensive network of domestic and international passenger services, alongside its air freight operations with Korean Air Cargo.
A member of the SkyTeam alliance, Korean Airlines is headquartered in Seoul, South Korea and is listed on the Korea Exchange (KRX: 003490). The airline group formally held a stake in low-cost carrier; Jin Air but sold its stake in the carrier on 01-Aug-2013. Jin Air now operates purely as an affiliate of Korean Air.
On 29-Sep-2021, Korean Air confirmed it received approval from Korea Development Bank (KDB) for its post merger integration (PMI) plan to acquire a controlling stake in Asiana Airlines for KRW1.8 trillion (USD1.5 billion) and subsequently merge the two airlines. The PMI includes provisions for gradually merging the two airlines into a single full service carrier under the Korean Air brand, integrating Korean Air's LCC subsidiary Jin Air with Asiana's LCC subsidiaries Air Seoul and Air Busan. Korean Air will delay plans to acquire a 63.9% stake in Asiana Airlines by a further three months until 31-Dec-2021, rather than 30-Sep-2021.
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