Asiana Airlines Incheon International Airport Seoul Korean Air

Korean Air, Air Incheon Announce Sale of Asiana Airlines

Agreement Marks End of Two-Year Negotiations

New Company to Emerge as Asia's Largest Carrier

Korean Air and Air Incheon have announced the finalization of an agreement to sell Asiana Airlines, bringing to a close two years of negotiations. The deal, which will create the largest airline in Asia, is expected to be completed by the end of 2023.

The combined entity will have a fleet of over 300 aircraft and a network that spans more than 100 destinations in 50 countries. The new company will be headquartered in Seoul and will be known as Korean Air-Asiana.

The sale of Asiana Airlines is a major step in the consolidation of the South Korean airline industry. Korean Air, which is the country's largest carrier, has been looking to expand its market share and compete with foreign rivals. Asiana Airlines, the second-largest carrier in South Korea, has been struggling financially in recent years.

The deal is also a significant development in the global airline industry. The combined entity will be one of the largest airlines in the world and will compete with the likes of United Airlines, Delta Air Lines, and Lufthansa.

Conclusion

The sale of Asiana Airlines is a major event that will have a lasting impact on the airline industry in South Korea and around the world. The new company, Korean Air-Asiana, will be a major player in the global aviation market and will be well-positioned to compete with its rivals.