Delta Air Lines, Ally of Cho Won-tae, Increases Stake from 11.00% to 13.98%
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[Asia Economy Reporter Yoo Je-hoon] Delta Air Lines, regarded as an ally of Cho Won-tae, Chairman of Hanjin Group, has increased its stake in Hanjin KAL to 13.98%.
Delta Air Lines recently acquired an additional 1,761,074 common shares (2.98%) of Hanjin KAL, raising its stake from the previous 11.00% to 13.98%, according to a disclosure on the 5th.
Since securing a 10.00% stake last year, Delta Air Lines has been gradually increasing its shareholding from the beginning of this year, when the shareholding competition between Chairman Cho and former Korean Air Vice President Cho Hyun-ah began. This is interpreted as an effort to check the former Vice President Cho's side amid a small gap in shareholding ratios between the two parties.
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Meanwhile, with this shareholding disclosure, Chairman Cho's friendly shares have expanded to about 42%, including his own (6.52%), Cho Hyun-min, Executive Director of Hanjin KAL (6.47%), Lee Myung-hee, Advisor of Jungseok Enterprise (5.31%), foundations and related parties (4.15%), Kakao (2%), and Korean Air's self-insurance, employee association, and stock ownership association (3.80%).
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