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.
