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About Korean Air
Established in 1969, Korean Air is one of the largest airlines and flag carrier of South Korea. From its hub at Seoul Incheon International Airport, Korean Air provides an extensive network of domestic and international services. The carrier's cargo division, Korean Air Cargo, is one of the largest cargo airlines in the world. Korean Air is a founding partner airline of the SkyTeam 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. On 01-Mar-2023, UK Competition and Markets Authority (CMA) approved Korean Air to proceed with plans to acquire a controlling stake in Asiana Airlines and subsequently merge the two airlines. Korean Air submitted requests for regulatory approval for the Asiana acquisition from antitrust authorities in various countries in Jan-2021. It has received approval from authorities in 11 countries, including South Korea, Turkey, Taiwan, Vietnam, Australia, Singapore and China, and is still awaiting approval from authorities in Japan, the US and the EU.