Overview
- Korean Air and Asiana, whose boards approved the deal Wednesday, signed the merger contract Thursday and targeted December 17, 2026 for full integration.
- Korean Air will absorb all Asiana assets, liabilities, rights, and staff under a share swap set at 1 Korean Air share for 0.2736432 Asiana shares, lifting Korean Air’s capital by about KRW 101.7 billion.
- Next steps include a merger application to South Korea’s transport ministry and, in June, requests to amend Operations Specifications so Asiana aircraft and safety systems fall under Korean Air’s existing license.
- Asiana will hold an extraordinary shareholders’ meeting in August to vote, while Korean Air uses a small‑scale merger process that allows board approval in place of a general meeting.
- Customers should expect the Asiana brand to be retired, Star Alliance exit, SkyPass as the combined loyalty program, and service upgrades backed by lounge refreshes, training alignment, and expanded maintenance facilities at Incheon; the consolidation follows KRW 3.6 trillion in pandemic support that Korean Air says has been repaid.