According to Post-merger Integration Plan
Korean plans to take over Asiana Airlines, make it a subsidiary and then launch an integrated airline in 2024.
Korean Air has submitted a post-merger integration (PMI) plan for Asiana Airlines to Korea Development Bank, according to the office of Democratic Party lawmaker Park Yong-jin on March 28.
Korean Air is planning to officially acquire Asiana Airlines in 2022. It originally planned to acquire a 63.9 percent stake in Asiana Airlines by participating in Asiana Airlines' paid-in capital increase of 1.5 trillion won on June 30, 2021 but has delayed the acquisition date considering the process of corporate combination reviews in nine countries, including Korea, the United States, the European Union, China, Japan and Turkey. Eight countries excluding Turkey have yet to disclose the results of their reviews.
An integrated airline will be launched in 2024, two years after Korean Air takes over Asiana Airlines. If Korean Air acquires Asiana Airlines, it will create a governance structure where Hanjin KAL (holding company) owns Korean Air (subsidiary), which in turn controls Asiana Airlines (sub-subsidiary).
Asiana Airlines' subsidiaries -- Air Busan (44.2 percent), Air Seoul (100 percent), Asiana Sabre (80 percent), Asiana Airport (100 percent) and Asiana IDT (76.2 percent) -- will become sub-sub-subsidiaries of Hanjin KAL.