Korean Air drops venture with Okay Air
Posted on: 7 Jul 2006 at 05:22 AM in
Airline News
Korean Air Co said it has decided not to proceed with a plan to establish a joint venture with China’s Okay Airways. “We decided not to proceed with the talks for a joint venture due to disagreements over major terms,” Korean Air said in a disclosure to the stock exchange, without providing further details.
South Korea’s flag carrier said in June last year that it was seeking a joint venture deal with China’s first private airline to tap into China’s booming cargo flight business.
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