Delta Airlines has increased its stake in Korean Airlines’ parent company Hanjin Kal to 9.21% from 5.13%.
In June, Delta was reported to have said it plans to increase its equity stake in Hanjin Kal to 10% over time.
A report from Reuters says that if the number two US carrier, which has a joint venture with Korean Air Lines, raises its stake to 10% in Hanjin Kal, the airline’s founding family and its allies will have a total stake of 39%, versus the 16% stake held by the local activist fund, Korea Corporate Governance Improvement.