(June 30, 2021)
Korean Air has completed the post-merger integration
(PMI) plan to integrate Asiana Airlines upon receipt
Confirmation from Korea Development Bank.

In November 2020, Korean Air signed a contract with
Acquired the new shares and perpetual convertibles of Asiana.

After the contract, Korean Air thoroughly
Due diligence carried out and post merger integration created
(PMI) plan presented to the Korea Development Bank on Jan.
March.

For three months the state bank checked
the PMI plan and made revisions in consultation with Korean Air,
the Ministry of Land, Infrastructure and Transport and others
appropriate agencies.

The finished PMI plan contains integration plans
for the full service carriers (FSCs) of the airlines and low costs
Transport companies (LCCs); Measures to remove holding restrictions
Companies specified in fair trade law; Employment retention
and succession of collective agreements; and plans effectively
reorganize corresponding subsidiaries.

After the completion of the PMI plan, Korean
Air will continue to integrate with Asiana after the deal is closed
Combination permits from the competent authorities.

Due to complicated legal issues,
financial and tax risks will be reflected in the actual implementation
various market regulations and conditions.

The newly integrated global airline is expected to grow
operational efficiency of overlapping passenger and cargo routes,
while diversifying schedules and expanding opportunities for
new routes. Changes are intended to increase and create customer benefits
integrated synergy through cost reduction.

In addition, the integrated FSC and LCC are expected
improve efficiency by achieving economies of scale, and will
act as an opportunity for relevant contractors to grow,
Partners and other companies in the aviation industry.

See latest

Travel industry news,
Video
Job interviews,
Podcasts
and other
News on:

Korean air,

Asian,

Korea.

Receive our latest travel news by email daily, free of charge
free of charge by entering your email address and name in
check the boxes on the right and click Subscribe. You can also
Receive the news from
WhatsApp, stay up to date with our RSS
Lining,
and even

Add the headlines to your website for free. Have any questions? Please read our
Travel news
FAQ.

Similar title :
Korean Air Receives Oscar in Aviation Industry, & # 39; COVID-19 Excellent & # 39;
Korean Air and Korea Development Bank finalize Asiana post-merger integration plan
Korean Air on course for Asiana acquisition
Korean Air& # 39; s merger plan with Asiana Airlines has been completed

Ref: http://www.travelnewsasia.com