Korean Airlines acquires Asiana; potential JAL and ANA merger
Korean Airlines has announced their intended acquisition of their biggest competitor and Korea's second largest carrier Asiana Airlines. The deal will be finalized in the second half of 2021, with Korean putting down $1.6 billion for Asiana, which has been bleeding through cash even pre-COVID-19 pandemic. Korean Airlines will move from the 18th largest carrier in the world to #10 on the list. Asiana business class will soon become Korean Airlines Prestige class Both airlines have had their history of ongoing struggles pre-pandemic. South Korea is a relatively small nation geographically, with a population of around 50 million. It's difficult for the country's demographics to support two full service airlines, and that's not even factoring in the international competition from foreign and low-cost carriers. A380s will probably be on the chopping block once the merger is complete What to expect from the Korean and Asiana Airlines merger? Significant consolidation ...