[News Article] Korean Air chief stresses importance of completing Asiana acquisition
Korean Air chief
stresses importance of completing Asiana acquisition
By Lee Min-hyung,
The Korea Times - Korean Air will set a historic milestone after completing its
long-awaited acquisition of Asiana Airlines, a step that will help build a
healthy aviation industry ecosystem across the nation, Hanjin Group Chairman
Cho Won-tae said in a message to employees, Monday. “All of us will
become main characters of history upon finishing the screening procedure for
the merger of the two airlines,” Cho told staff during a ceremony marking the
55th anniversary of Korean Air. Hanjin Group operates the nation’s flag
carrier, which announced its acquisition of the cash-strapped airline in 2020. “The harsh winter
came immediately after we resolved on the acquisition plan, but we are
confident that the integrated carrier will grow to serve as a large tree in the
global aviation industry,” he said. Korean Air’s
acquisition of Asiana Airlines has long been protracted after facing opposition
from overseas competition authorities. However, the airline has won approvals
from a total of 13 out of 14 foreign authorities over the past three years. The
U.S. Department of Justice holds the final key concerning the completion of the
high-stakes deal. Korean Air expects
the U.S. authority to grant approvals as early as the first half of 2024. After
the airline overcame a major hurdle from the European Union and won conditional
approval from the authority, market watchers are betting on the possibility of
receiving final approval from the U.S. authority as well. “Korean Air is a
trustworthy airline offering a high level of safety and a warm-hearted
service,” Cho said, adding that the airline should build a more
customer-centric service in all areas — encompassing flight quality,
maintenance and in-flight service. He also predicted
that the aviation industry would face lingering uncertainties and new
challenges this year, but shared optimism to tackle them by garnering efforts
from the executives and employees. “All of our staff
members have expertise in their own fields, so our future will be brighter than
before if we team up with one another,” he said. Source: https://www.koreatimes.co.kr/www/tech/2024/03/419_369974.html
2024.03.05
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