Korean Air to take over rival Asiana

Korean Air to take over rival Asiana

Korean Air is set to acquire rival Asiana Airlines, with plans to consolidate into a single flag carrier that will dominate the Korean market. The agreement will see Korean Air acquire a majority share in Asiana for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. Korean Air and Asiana are currently the two largest full-service carriers in Korea, with the merger expected to give Korean Air control of around…

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