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KRX:003490

7 stories mentioning KRX:003490Updated just now

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Asia

Market Chatter: Korean Air Faces Possible Prosecution Over Deleted Documents in Seat Capacity Probe

Korean Air Lines (KRX:003490) could face prosecution after three of its employees are alleged to have deleted files and emails while the Fair Trade Commission was investigating its request for merger-related seat-capacity rules following its merger with Asiana Airlines, The Korean Times reported Thursday.The regulator submitted a review report the same day recommending that Korean Air and the three employees be referred for prosecution over alleged obstruction of its investigation.Following the submission, the full commission will review the case and make a final call after giving Korean Air and its employees an opportunity to submit their opinions and evidence, the report said.Representatives for Korean Air could not be reached immediately byfor comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:003490
Asia

Korean Air's Jin Air to Absorb Asiana's LCC Units Air Busan and Air Seoul

Korean Air's (KRX:003490)subsidiary Jin Air has agreed to merge with Asiana Airlines (KRX:020560) subsidiaries Air Busan and Air Seoul through an absorption-type merger.In the merger, Jin Air, which will be the surviving entity, will issue 50.3 million new shares at exchange ratios of 1:0.2863 and 1:0.7502, respectively.Korean Air will remain Jin Air's largest shareholder post-merger, according to a bourse filing on Friday.The merger aims to create synergies, strengthen competitiveness, and improve governance, with a shareholders' meeting scheduled for December to vote on the exercise.Registration of the merged entity is targeted for March 17, 2027 though the deal requires regulatory approvals from Korea's Fair Trade Commission and the Ministry of Land, Infrastructure and Transport, as well as foreign filings including in Vietnam.A special committee of independent directors reviewed the transaction for fairness, the filing read.Air Busan shareholders who oppose the merger may exercise appraisal rights at 1,495 won per share, with the deal terminable if total claims surpass 200 billion won.

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Asia

Korean Air to Invest KRW100 Billion in K-Way Property's Capital Increase

Korean Air Lines (KRX:003490) will invest 100 billion won for 1 million common shares of K-Way Property.The airline group's board approved the resolution to participate in the affiliate's capital increase on Aug. 12 with the payment scheduled for Aug 26, according to a bourse filing on Friday.

KRX:003490
Asia

Korean Air, Asiana Shareholders Approve Merger; Integrated Airline to Launch Dec 17

Korean Airlines' (KRX:003490) board and Asiana Airlines' (KRX:020560) shareholders have formally approved a merger agreement, paving the way for the two airlines to prepare and launch an integrated airline on Dec. 17.Korean Air's board ratified the agreement on Aug. 12, fulfilling small-scale merger requirements under the Commercial Act, while Asiana secured shareholder approval with 81.86% attendance and 99.3% voting in favor, according to a statement on Wednesday.The merger agreement, signed in May, has cleared all regulatory hurdles, including conditional approval from the Ministry of Land, Infrastructure and Transport.The two carriers now plan to complete remaining procedures, with post-merger integration already underway across flight operations, cabin crew, and organizational culture.Korean Air will operate as the surviving entity, and the integrated airline is set to launch later this year, with both companies focused on ensuring stable, safe operations and high-quality service.

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Treasury

Korean Airlines Files for Singapore Listing of $300 Million Bonds

Korean Airlines filed for the listing of $300 million 4.75% guaranteed senior unsecured bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bonds will be listed and quoted on the Bonds Market on Aug. 12, the filing said.

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Asia

Korean Air to Develop Military Version of Archer's Midnight Aircraft

Korean Air (KRX:003490) is partnering with U.S. aircraft maker Archer Aviation to develop a military version of Archer's Midnight electric vertical takeoff and landing (eVTOL) aircraft.Under the tie-up, Korean Air will modify the civilian aircraft to meet South Korea's military requirements, while Archer will provide technical support and assist with airworthiness certification, according to a Monday news release.

KRX:003490
Asia

Korean Airlines Swings to Loss in Q2

Korean Airlines (KRX:003490) posted a second-quarter net loss of 97.3 billion won, swinging from net income of 395.9 billion won a year earlier, according to a Monday filing with the Korea Exchange.Sales were up 26% year over year to 5.02 trillion won from 3.986 trillion won.Shares of Korean Airlines fell more than 3% at market close.

KRX:003490

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