Korean Air will resume “transit exclusive domestic flights” between Busan Gimhae International Airport and Seoul Incheon International Airport from September 30 after being suspended for two and half years due to the pandemic.
The Australian Competition and Consumer Commission (ACCC) has announced its decision to clear Korean Air’s acquisition of Asiana Airlines after conducting market consultation on the Korean Air-Asiana Airlines merger with interested parties.
Korean Air will launch its inaugural flight to Budapest, Hungary from October 3. The airline will operate a 269-seat Boeing 787-900 once a week on Mondays departing from Seoul Incheon at 11:25 am and landing in Budapest at 5:05 pm. The return flight leaves the next day at 7:15 pm and arrives in Seoul Incheon one day later at 12:50 pm. There will also be an extra flight on Saturday October 29.
Korean Air was selected on August 12 as the preferred bidder for the Korean Agency for Defense Development’s (ADD) “stealth UAV squadron development” project. Korean Air has received high scores for its technology in the first stage of the bidding process. The stealth UAV squadron technology is being developed for the first time in Korea as a part of the ADD’s “Future Challenge Defense Technology R&D Project” to develop new weapon systems
Korean Air has finalised a post-merger integration plan with Asiana Airlines after receiving confirmation from the Korea Development Bank. A deal to combine the two carriers was signed last year.
As part of the transaction, Korean Air will acquire low-cost regional carrier Air Busan, largely owned by Asiana Airlines, and fully-owned low-cost Air Seoul.
All Korean Air executives will forgo part of their salaries in response to the worsening business environment due to the Covid-19 virus outbreak. The carrier has also outlined other self-rescue measures designed to improve its financial structure.