Korean Air Chairman and CEO Walter Cho says the airline will retain Air Busan’s presence and network in its home city of Busan, despite connectivity concerns.
Korean Air appears close to gaining the clearances to take over Asiana Airlines, which would signal the end of a four-year journey through a regulatory maze.
Korean Air has reached an agreement with Air Incheon regarding the sale of Asiana’s cargo unit, which is expected to be split off after Korean takes over Asiana.
The Korean Air-Asiana merger process is spawning significant opportunities for other carriers thanks to competition remedies required by overseas regulators.