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Korean Air has completed its acquisition of Asiana Airlines, securing a 63.88% stake in the company. This acquisition, which was initiated on November 16, 2020, faced numerous regulatory hurdles over the past four years. The deal culminated with Korean Air acquiring 131,578,947 newly issued shares of Asiana Airlines on December 12, 2024.
As part of this process, an extraordinary meeting of shareholders is scheduled for January 16, 2025. At this meeting, new board directors nominated by Korean Air will be appointed to oversee Asiana's operations as a subsidiary.
The financial details include a transaction completion payment made on December 11, 2024. Korean Air paid KRW 800 billion ($558 million), bringing the total investment through capital increase to KRW 1.5 trillion ($1.05 billion). This amount includes previous payments totaling KRW 700 billion.
