Asiana sells cargo division ahead of merger with Korean Air

[YS11]

South Korean airline Asiana is selling its cargo operations to compatriot Air Incheon. The acquisition is worth $342 million, according to both parties. The divestment of the cargo branch takes place in the run-up to the proposed merger with Korean Air.

Korean Air and Asiana are South Korea's two largest airlines. In order to obtain approval from national and foreign authorities for the merger, both parties must make room for competition, both in terms of passenger and cargo flights. For example, Korean Air leases Dreamliners to Air Premia, and slots and A330s go to T'Way Air.

Huge growth
For the small company Air Incheon, the acquisition of Asiana Cargo means a huge expansion. The cargo airline itself flies with four Boeing 737-800Fs, and will soon receive a Boeing 767-300F and ten 747-400Fs. The deal should be formalized by 2025

https://www.luchtvaartnieuws.nl/nieuws/ ... korean-air