Asiana Airlines Board Approves Sale of Cargo Business (Update)

The Asiana Airlines board of directors is reported to have agreed to the remedial measures related to the merger that Korean Air will submit to the European Union (EU) Executive Commission. The separation and sale of the cargo business for this purpose is also said to have been approved.

Regarding the merger of Korean Air and Asiana Airlines, discussions on the sale of Asiana Airlines' cargo business are scheduled at the board meeting on the 2nd. An Asiana Airlines aircraft is taking off at Gimpo Airport in Gangseo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

At the Asiana Airlines board meeting held on the 2nd, five directors (one inside director and four outside directors) attended, but only four participated in the vote. The related agenda passed with three in favor and one abstention. Korean Air plans to submit the remedial measures to the EU Executive Commission within today.

Earlier, at the regular board meeting on the 30th of last month, Korean Air resolved to submit the remedial measures requested by the EU, including the sale of Asiana Airlines' cargo business.