Seoul, May 15, 2026. Korean Air will emerge as an integrated national airline on December 17, 2026, marking the completion of a consolidation process that has spanned more than five years. The boards of directors of Korean Air and Asiana Airlines approved the merger agreement on May 13; the formal signing of the agreement is scheduled for May 14.

The agreement follows the original share subscription agreement signed in November 2020. Upon signing, Korean Air will assume all of Asiana Airlines’ assets, liabilities, rights, and obligations, as well as its employees.

The South Korean government and state-led creditors provided Asiana Airlines with liquidity support totaling 3.6 trillion KRW to stabilize the domestic aviation industry following losses caused by the pandemic. During the acquisition process, Korean Air led the financial and operational restructuring of Asiana Airlines, which included the full repayment of public funds.

Merger Ratio and Corporate Governance
The merger ratio was set at one share of Korean Air for 0.2736432 shares of Asiana Airlines. This value was calculated based on the base market price in accordance with the Korean Capital Markets Act, using a weighted arithmetic average of the closing prices from the previous month, the previous week, and the last trading day. This transaction is expected to increase Korean Air’s capital by approximately KRW 101.7 billion.

Korean Air plans to carry out the transaction as a minor merger in accordance with the Korean Commercial Act. Under these provisions, Korean Air’s board resolution replaces the general meeting, while Asiana Airlines will convene an extraordinary general meeting in August to approve the merger.

To ensure the fairness of the transaction, Korean Air has implemented the Ministry of Justice’s guidelines on directors’ conduct in corporate reorganizations. The ESG Committee served as a special review body to oversee the transaction terms, while independent external experts verified the valuation methodologies. Detailed fairness measures and results will be disclosed in the upcoming registration document.

Operational Standardization
Following the signing of the agreement on May 14, Korean Air will submit a merger application to the Ministry of Land, Infrastructure and Transport (MOLIT). In June 2026, the airline will apply for changes to its operating specifications (OpSpecs) to standardize Asiana Airlines’ aircraft and safety systems under Korean Air’s existing Air Operator Certificate (AOC).

Once domestic approvals are in place, Korean Air will gradually submit applications to international aviation authorities to align safety management systems and operational protocols across the entire global network expanded through the acquisition.

Infrastructure and Service
Optimization Korean Air is currently finalizing specific investments to support its expanded operations.

• Service improvements: Lounge renovations, catering upgrades, and terminal relocations to enhance the passenger experience
• Training standardization: Flight crew training programs have been standardized to ensure procedural consistency across both airlines.
• Facility Modernization: Renovation of the Operations and Customer Center (OCC), the Cabin Crew Training Center, and the Aviation Health and Medical Center to handle the increased volume.
• MRO capacity: Improvement of maintenance infrastructure, including a new engine maintenance facility and an expanded Engine Test Cell (ETC) near Incheon Airport.

Strategic Synergies
The integration will strengthen Korean Air’s global market presence and establish Incheon Airport as a dominant global hub through optimized network connectivity and increased transit efficiency. Korean Air is also finalizing the consolidation of the loyalty program in consultation with the Korea Fair Trade Commission and relevant authorities to ensure a smooth transition for passengers.

Reference: Integration Timeline

___________________

Relevant images are available for download here. Please note the copyright © Korean Air. 

Press Contact:
BZ.COMM GmbH
Steffen Hager | Anna Heuer
Hanauer Landstrasse 136 | 60314 Frankfurt am Main
E: Koreanair@bz-comm.de | T: +49 69 256 28 88 26

About Korean Air
Operating worldwide for over 55 years, Korean Air is one of the world’s top 20 airlines and carried more than 25 million passengers in 2025. With its global hub at Incheon International Airport (ICN), the airline serves 116 cities in 39 countries across five continents with a modern fleet of 167 aircraft and over 20,000 professional employees.

Korean Air’s outstanding performance and its commitment to the highest standards of safety and customer service are widely recognized. The airline has been honored with numerous awards, including a 5-star rating from Skytrax and the “Airline of the Year” award from both Air Transport World and Airline Ratings.

Korean Air is a founding member of the SkyTeam alliance and has become one of the largest trans-Pacific airlines through its joint venture with Delta Air Lines. 

For more information about Korean Air, visit koreanair.com, facebook.com/KoreanAir, Google.com/+KoreanAir_KE, and X @KoreanAir_KE.

Privacy Notice:
If you no longer wish to receive press releases or invitations from us, please contact us at datenschutz@bz-comm.de to unsubscribe. For more information about our privacy policy, please visit our website.