Established in 1988, Asiana Airlines is an airline based at Seoul Incheon International Airport with a secondary hub at Seoul Gimpo International Airport. Majority owned by one of South Korea's largest conglomerates, the Hyundai Development Company, Asiana is the one of the largest airlines in South Korea and an increasingly important player in the East Asian region. The airline serves destinations across Asia, North America, Australia and Europe. Asiana is a member of the Star Alliance.
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.
On 08-Feb-2022, Competition and Consumer Commission of Singapore (CCCS) approved Korean Air to proceed with plans to acquire a controlling stake in Asiana Airlines and subsequently merge the two airlines.
On 22-Feb-2022, South Korea's Fair Trade Commission (FTC) approved Korean Air's request to acquire a 63.88% stake in Asiana Airlines for KRW1.8 trillion (USD1.5 billion) and subsequently merge the two airlines. The merger is still awaiting approval from authorities in Australia, China, Japan, the US, the UK and the EU.
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