SEOUL, July 22 (Korea Bizwire) – Korean Air Co. said Monday that it has signed a memorandum of understanding with Boeing to buy up to 50 airplanes, including 20 777-9s, in a bid to upgrade its fleet. Under the deal valued at roughly 30 trillion won (US$21.6 billion), Korean Air, the country’s largest flag carrier, [...]
SEOUL, Jul. 22 (Korea Bizwire) — Korea Air Co., South Korea’s leading air carrier, said Monday it has received its first 787-10 Dreamliner passenger jet from Boeing Co. and will launch its inaugural flight this week. The full service carrier said it will introduce the next-generation, eco-friendly passenger jet in its route connecting Incheon International [...]
SEOUL, Mar. 7 (Korea Bizwire) — The government said Thursday it plans to closely monitor air ticket prices amid concerns of market monopolization from an envisioned merger between Korean Air Co. and Asiana Airlines Inc. The Ministry of Land, Infrastructure and Transport announced the measures centered around the transport and logistics infrastructure for 2024 at [...]
SEOUL, Feb. 13 (Korea Bizwire) — Korean Air Co. and Asiana Airlines Inc. have now entered the final stretch of sealing their proposed merger after winning approval by the European Union of the consolidation of South Korea’s two full-service carriers. The conclusion as to whether the companies can ultimately merge themselves into a single mega-carrier [...]
SEOUL, Jan. 2 (Korea Bizwire) — The chief of Korean Air Co., South Korea’s largest air carrier, on Tuesday vowed to complete the airline’s proposed acquisition of domestic rival Asiana Airlines in 2024. In a New Year’s message to employees, Korean Air Chairman and CEO Cho Won-tae said the company “will complete the acquisition of [...]
SEOUL, Jan. 2 (Korea Bizwire) — Korean Air Co. said Tuesday its flights connecting Incheon and Japan’s western prefecture of Ishikawa have been delayed after a major earthquake struck off Japan’s west coast the previous day. According to the company, flight KE775 from Incheon International Airport, west of Seoul, to Komatsu Airport in Ishikawa was [...]
SEOUL, Dec. 6 (Korea Bizwire) — The antitrust regulator of the European Union announced Wednesday it plans to make a provisional decision on whether to approve a merger deal between Korean Air Co. and Asiana Airlines by mid-February. The European Commission (EC), the executive body of the EU, set its provisional deadline for the review by Feb. 14, according to its official [...]
SEOUL, Nov. 14 (Korea Bizwire) – European aerospace giant Airbus SE said Tuesday it has been “actively” engaged with the South Korean government to set up a research and development (R&D) center in the country as it seeks to enhance partnerships with local companies. Airbus has said it aims to be a partner of choice [...]
SEOUL, Oct. 31 (Korea Bizwire) — Although announced nearly three years ago by the South Korean government, the proposed merger of Korean Air Co. and Asiana Airlines Inc., the country’s two full-service carriers, still faces a tough uphill battle in securing regulatory approval across key markets. In November 2020, Korean Air signed a deal to [...]
SEOUL, Oct. 30 (Korea Bizwire) — The board of Asiana Airlines Inc., South Korea’s second-largest air carrier, plans to decide Monday on whether to sell its cargo business, as Korean Air Co. seeks to win antitrust approval from European Union regulators for its takeover of the rival. The EU antitrust regulators have raised concerns that [...]