SEOUL — Korean Air’s planned absorption of Asiana Airlines has moved into its final stage after Asiana shareholders approved the merger, leaving the carriers to complete remaining regulatory and operational procedures ahead of the planned launch of an integrated airline in December.
Asiana shareholders approved the merger at an extraordinary general meeting on Wednesday, while Korean Air’s board handled the approval under the small-scale merger procedure, according to the airlines’ published merger schedule. Korean Air and Asiana signed the merger agreement in May, with Korean Air set to remain as the surviving company and Asiana to be dissolved.
The transaction is scheduled to take effect on Dec. 16, with the integrated Korean Air expected to begin operations on Dec. 17. The planned merger ratio is one Korean Air share for 0.2736432 Asiana shares, according to Korean Air’s merger documents.
The shareholder vote follows a major regulatory milestone in June, when South Korea’s Ministry of Land, Infrastructure and Transport conditionally approved the merger under the Aviation Business Act. The ministry said the approval followed reviews by specialists in aviation, consumer affairs, employment, law and accounting.
The ministry said Korean Air still had to complete a safety operating-system change inspection and obtain approvals from overseas aviation authorities. It also said it would continue monitoring implementation of the carriers’ integration plan, citing the merger’s potential impact on aviation safety and consumer convenience.
Competition authorities in South Korea and overseas had already cleared the underlying acquisition. South Korea’s Fair Trade Commission completed its review in December 2024 after foreign competition authorities, including the European Commission and U.S. Department of Justice, had completed their reviews. The European Commission’s approval was conditional on remedies addressing competition concerns in passenger and cargo services.
Korean Air agreed to divest Asiana’s global cargo business as part of the European remedies, while measures were also taken to facilitate entry by rival carriers on overlapping passenger routes. The European Commission concluded that the commitments would address its competition concerns, subject to compliance with the undertakings.
The airlines are now proceeding with the remaining legal, safety and operational steps. Under the published timetable, Asiana’s merger date is Dec. 16, followed by registration of the merger and Asiana’s dissolution on Dec. 17, with new Korean Air shares scheduled for listing in January 2027.
