Does Korean Air own Asiana Airlines?

On December 12, Korean Air acquired 131,578,947 newly issued shares in Asiana Airlines. This represents a 63.88% ownership stake and makes Asiana Airlines a subsidiary of Korean Air. The completion follows Korean Air’s payment of KRW 800 billion ($559 million) to Asiana Airlines on December 11, in effect concluding the share purchase.

Why is Korean Air acquiring Asiana Airlines?

Korean Air has finalized its acquisition of Asiana Airlines, creating a significant merger with global implications for the aviation industry. The deal, which began in 2020, was delayed due to the need for regulatory approvals from 14 countries, each requiring concessions to preserve competition.

Why did South Korea buy Asiana Airlines?

South Korea will support smaller airlines and monitor market competitiveness after dominant carrier Korean Air completed a $1.3 billion acquisition of Asiana Airlines on Thursday to create one of Asia's biggest carriers.