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Korean Air Shareholders Approve Proposal to Change Articles of Association for Asiana Takeover

Korean Air Shareholders Approve Proposal to Change Articles of Association for Asiana Takeover

SEOUL, Jan. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday its shareholders approved a plan to change the company’s articles of association to help finance its planned acquisition of smaller rival Asiana Airlines Inc. In an extraordinary shareholders’ meeting, 70 percent of the Korean Air stakeholders voted for the [...]

Korean Air Ships COVID-19 Vaccine Ingredient to Europe

Korean Air Ships COVID-19 Vaccine Ingredient to Europe

SEOUL, Dec. 9 (Korea Bizwire) — Korean Air Co., South Korea’s largest carrier, said Wednesday it has shipped a COVID-19 vaccine ingredient from Incheon to Amsterdam using its cold chain logistics as it gears up for upcoming deliveries of vaccines. A passenger flight transporting a Korean company’s vaccine ingredient departed from Incheon International Airport on [...]

Korean Air’s Asiana Takeover Requires Regulatory Approval from 4 Countries

Korean Air’s Asiana Takeover Requires Regulatory Approval from 4 Countries

SEOUL, Nov. 29 (Korea Bizwire) — South Korea’s biggest carrier Korean Air Lines Co.’s planned acquisition of the debt-laden Asiana Airlines Inc. requires approval from antitrust authorities in at least four other countries, industry sources said Sunday. According to the aviation industry sources and the Fair Trade Commission (FTC), the planned merger requires review from [...]

Korean Air’s Asiana Acquisition Faces Bumpy Road After Injunction

Korean Air’s Asiana Acquisition Faces Bumpy Road After Injunction

SEOUL, Nov. 20 (Korea Bizwire) — Creditors’ plan to sell the debt-laden Asiana Airlines Inc. to its bigger rival Korean Air Lines Co. faces a bumpy road as a local equity fund has filed an injunction against the plan. On Tuesday, Asiana’s main creditor, the Korea Development Bank (KDB), signed an investment agreement with Korean [...]