Seoul Court Rules in favour Korean-Asiana Merger

MIAMI – Seoul Central District Court yesterday ruled in favor of the merger of Korean Air (KE) and Asiana Airlines (OZ). The decision will make the acquisition easier.

Last month, KE was set to buy its biggest rival for ₩1.8tn. Due to the pandemic, both airlines were making losses. The merger was an “inevitable decision according to Kim Sang-do, the Korean Deputy Minister for Civil Aviation.

Korean Air Boeing 787 Picture source: Luca Flores / @luca_at_lax

The Court Case

Three shareholders of KE-parent Hanjin Kal sued as they feared that the stock placement would dilute their stakes. Also, they read more ⇒

Source:: “Airways Magazine”

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