Korean Air has completed its acquisition of Asiana Airlines on December 11, 2024, according to local media reports.
The merger was complete after Korean paid an additional 800bn Korean won ($559.4 million). This added on to its advance payment of 700bn won ($489.5 million), totalling 1.5 trillion won ($1.05bn). As a result, the airline has acquired a 63.9% stake in the airline.
The merger took nearly four years to be approved, with 14 global competition authorities giving their approval. Earlier this month, the US Department of Justice did not seek to block the merger before the deadline, thus confirming the merger could go ahead.
Asiana Airlines will hold an extraordinary shareholders' meeting on January 16, 2025, where Korean Air will appoint key executives - including its new CEO.