Korean Air Secures Close of $1.3 Billion Acquisition of Asiana Airlines

In one of the most significant aviation mergers in recent history, Korean Air acquired a 63.88% stake in Asiana Airlines on December 12, 2024.

The deal was sealed after Korean Air navigated global regulatory clearance in 14 jurisdictions including the U.S., where Korean Air was represented by Cleary Gottlieb in an investigation by the U.S. Department of Justice (DOJ). The focus of the DOJ’s review was on passenger and cargo routes between Asia and the U.S. The DOJ took no action on the deal.

Completion of the acquisition will strengthen the global competitiveness of Korea’s national aviation industry and enhance Incheon Airport’s capabilities as a hub for passengers and cargo.