South Korea Deputy Minister for Civil Aviation: Korean Air-Asiana Airlines merger ‘unavoidable’

    South Korea‘s Deputy Minister for Civil Aviation Kim Sang-do, commenting on Korean Air‘s plans to acquire a controlling stake in Asiana Airlines for KRW1.8 trillion (USD1.6 billion), stated: “Given the continuing slump in the aviation industry, the merger of these two large airlines is unavoidable if we’re to forestall challenges across the entire aviation sector” (Yonhap News/The Korea Herald/Hankyoreh/Chosun Ilbo, 16/17-Nov-2020). Mr Kim noted: “Both companies are in need of a large amount of additional government [financial] support next year”, so “rather than separate support for the two large airlines”, South Korea’s Government will now be able “to reduce the amount of support” by providing it to “the integrated airline” following the merger of Korean Air and Asiana Airlines.