Hanjin Group Chairman Cho Won-tae has officially stated that Air Busan (South Korea) will not be sold as a separate entity, reinforcing the group’s commitment to maintaining its aviation portfolio. Amid speculation about potential restructuring or divestment, Cho’s remarks affirm that Air Busan will remain under Hanjin Group’s control, ensuring stability for the airline.
In the wake of the Korean Air-Asiana Airlines merger, Korea’s Fair Trade Commission (KFTC) and the Ministry of Land, Infrastructure, and Transport (MOLIT) have formalized a business agreement to jointly monitor the implementation of corrective measures required as part of the merger approval process. This cooperation aims to ensure fair competition and compliance with aviation regulations following the integration of Korea’s two largest airlines.
Air Incheon, a South Korean cargo airline, has expanded its fleet by acquiring a Boeing 747-400F freighter, previously operated by Asiana Airlines. The aircraft, bearing the serial number 25782, was recently delivered on lease as part of Air Incheon’s strategy to strengthen its long-haul cargo capabilities. The carrier plans to deploy the aircraft into commercial service in June 2025, increasing…
Asiana Airlines (South Korea) has successfully repaid $2.6 billion in loans received from the Export-Import Bank of Korea, the Key Industrial Stability Fund, and the Korea Development Bank. The repayment eliminates a major financial burden for the airline, positioning it for long-term stability and a smoother transition amid its planned merger with Korean Air.
Asiana Airlines has expanded its fleet with the addition of an A321neo, serial 12396, equipped with LEAP-1A32 engines. This latest acquisition aligns with the airline’s strategy to modernize its fleet with fuel-efficient, next-generation aircraft.
Air Seoul, a South Korean low-cost carrier, has announced yet another postponement of its loan repayment to its parent company, Asiana Airlines. This marks the 18th extension of the loan’s maturity date since the airline first borrowed US$20.6 million in June 2020.
Korean Air CEO Woo Kee-hong is set to be promoted to vice chairman upon the completion of Korean Air’s corporate merger with Asiana Airlines. This promotion highlights the strategic importance of the merger, which aims to consolidate the two major South Korean carriers into a globally competitive airline. The merger process has been closely monitored by industry analysts and…
Air Incheon, South Korea’s dedicated cargo airline, has appointed Kim Kwan-sik as its new Chief Executive Officer (CEO). This strategic appointment aims to leverage Kim’s extensive financial expertise to facilitate the airline’s acquisition of Asiana Airlines’ cargo business, a move set to position Air Incheon as a leading player in the nation’s air cargo industry.
Asiana Airlines, based in South Korea, has announced plans to repay $976 million in loans from creditor banks earlier than initially scheduled. This significant financial move is expected to reduce the airline’s debt ratio by more than 1000%, marking a major step in its financial restructuring efforts.
Korean Air has announced its plan to complete the integration of Asiana Airlines within the next two years, following the successful acquisition of a 63.88% ownership stake in its subsidiary. This acquisition marks a significant milestone in Korean Air’s strategic expansion and consolidation in the South Korean aviation market.
