Korean Air completes Asiana acquisition

Seoul-based Korean Air has completed the acquisition of rival Asiana Airlines, four years after first announcing the move. On December 12, 2024, the flag carrier acquired 131,578,947 newly issued shares in Asiana, representing a 63.88% ownership stake and making Asiana a subsidiary of Korean Air. The completion follows Korean Air’s payment of £450m to Asiana Airlines on December 11, concluding the share purchase transaction. This brings the total investment to £847.4m. Asiana was due to hold an extraordinary general meeting