MANILA – More route options and enhanced connectivity are underway for travelers from the Philippines as Korean Air (KE) acquired a majority stake in Asiana Airlines.
KE announced Thursday that it has acquired a 63.88 percent ownership stake in Asiana Airlines, making the latter a subsidiary of South Korea’s flag carrier.
“The merger expands route options and enhances connectivity between the Philippines and Korean Air’s networks through Incheon Airport, facilitating improved travel flows for both business and leisure passengers,” KE’s Global Communications Manager Kenneth Lee told the Philippine News Agency.
The integration streamlines connections and provides Filipino travelers with broader access to international destinations, he added.
KE plans to complete the integration with Asiana within two years.
It said the strategy includes network optimization, service expansion to new destinations, as well as enhanced safety investments.
The airline added that the integration will proceed without workforce restructuring.
According to KE, the acquisition represents a significant milestone for Korea’s aviation industry.
Measures to strengthen Korea’s aviation capabilities are underway, and KE will also enhance its competitive position in the global market.
The Philippine Competition Commission completed its competition assessment of the Korean Air-Asiana Airlines transaction in May 2021. (PNA)