Korean Air has completed its protracted purchase of indebted South Korean rival Asiana Airlines, the airline said on Thursday (Dec 12), a major step towards forming one of Asia’s biggest carriers.
The 1.8-trillion-won (US$1.3 billion) M&A deal, which stands as one of the longest to completion in the sector, was first unveiled four years ago by South Korea’s largest carrier to rescue Asiana, grappling with a plunge in demand during the COVID-19 pandemic.
Korean Air acquired 131,578,947…
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