Korean Air, Asiana Airlines to merge into single carrier Dec. 17

Korean Air said Wednesday it will launch a unified carrier on Dec. 17, 2026, completing the full absorption of Asiana Airlines into the South Korean flag carrier, The Korea Times reported.

The merger, first agreed in November 2020, will fold all of Asiana's assets, liabilities and personnel into Korean Air and is designed to position Incheon International Airport as a dominant global aviation hub, according to The Korea Times.

Under the deal, Korean Air will take on all of Asiana's assets, liabilities, rights, obligations and personnel. The merger ratio is fixed at one Korean Air share for every 0.2736432 Asiana shares, the company said.

South Korea's government and state-led creditors provided 3.6 trillion won, or about $2.42 billion, in liquidity support to Asiana during the acquisition period, according to The Korea Times. Korean Air oversaw Asiana's financial and operational restructuring throughout the process, and full repayment of public funds was completed before the merger's close.

The combined carrier will consolidate the two airlines' loyalty programs and mileage systems, with the Fair Trade Commission coordinating the integration, the company said. Lounges at Incheon International Airport have already been upgraded, and cabin crew training centers are being modernized ahead of the December launch.

"The integration will elevate Korean Air's global market presence and establish Incheon International Airport as a dominant global hub through optimized network connectivity and increased transit efficiency," a Korean Air official said, according to The Korea Times.

Korean Air has submitted a merger application to South Korea's Ministry of Land, Infrastructure and Transport and obtained international regulatory approvals. Flight crew training is underway across both airlines to ensure operational consistency following the launch, the company said.

The December launch will conclude a merger process that started with an initial agreement in November 2020, when Asiana Airlines was under severe financial strain from the COVID-19 pandemic.