Merger Approval Between Asiana Airlines and Korean Air Imminent...Korean Air Hits Record High [Featured Stock]

Reflected Expectations for Asiana Airlines Merger
Post-Merger, Expected to Become a Top 10 Global Airline
Asiana Airlines Gets a 'New Owner' After 5 Years, Operates Independently for 2 Years

Korean Air has reached a 52-week high. The anticipation surrounding the imminent approval of the merger with Asiana Airlines appears to be reflected in the stock price.

As of 9:19 AM on the 26th, Korean Air's stock is trading at 25,100 KRW, up 3.72% (900 KRW) from the previous trading day. This surpasses the one-year high of 24,800 KRW recorded on the 20th.

Korean Air is on the verge of merging with Asiana Airlines. Only the final approvals from the European Commission (EC) and the U.S. Department of Justice (DOJ) remain. Approval is expected this week. It has been four years since Korean Air announced its intention to acquire Asiana Airlines in 2020. For Asiana Airlines, it means finding a new owner after 5 years and 7 months since the sale was decided in April 2019.

Once the merger is completed, Korean Air will become one of the top 10 airlines worldwide with over 200 aircraft. The plan is to incorporate Asiana Airlines as a subsidiary, operate it independently for two years, and then launch a unified Korean Air. Woo Ki-hong, CEO of Korean Air, recently told reporters at an event, "I hope the final approval for the corporate merger with Asiana Airlines comes soon," adding, "After successfully completing the acquisition, we will consider ways to provide more detailed explanations about future plans."