Korean Air expects to conclude the acquisition of Asiana Airlines in 2024, as announced by airline chief Walter Cho in a New Year’s Day message. Despite unforeseen delays, Cho expressed confidence in the merger, initially revealed in November 2020.
The integration aims to position Korean Air as a global aviation leader, optimising networks and expanding to new destinations. Regulatory approvals have been secured in Singapore, the UK, and China, with challenges remaining in the EU, USA, and Japan, where a February deadline has been set.
Both airlines received board approval last year to sell Asiana Airlines’ cargo business, addressing market share concerns. The acquisition faced a setback in late October, resolved with the cargo division’s approved divestment.
Cho acknowledged near-term challenges, including geopolitical risks and supply chain disruptions, urging consistent strength refinement amid cargo business slowdown and heightened competition in passenger travel. Despite hurdles, Cho celebrated overcoming crises and noted a resurgence in travel plans among valued passengers.