Asiana Airlines(020560) gave final approval for the merger with Korean Air Lines(003490) at an extraordinary shareholders meeting.
Asiana Airlines held an extraordinary shareholders meeting at its headquarters in Gangseo District, Seoul, on the morning of the 12th and passed the "agenda to approve the merger agreement" as originally proposed. Shareholder attendance was 81.9%, and the approval rate was 99.3%.
This extraordinary shareholders meeting was convened to approve Asiana Airlines' absorption-type merger into Korean Air Lines under the merger agreement concluded on May 14. With the passage of the original proposal, the integrated Korean Air Lines will be officially launched on Dec. 17.
Korean Air Lines has pursued integration after releasing its plan to acquire Asiana Airlines in Nov. 2020 and undergoing corporate combination reviews by domestic and overseas competition authorities.
Song Bo-young of Asiana Airlines said, "It has been a long journey that began in Nov. 2020 and continued for more than five years," and noted, "On Dec. 17, we will successfully complete the corporate combination process with Korean Air Lines and be reborn as the integrated Korean Air Lines."
Song added, "This will be the first step in writing a new chapter in Korea's aviation industry as a mega carrier," and said, "We will work to ensure there is no inconvenience to customers due to the integration."