Asiana President: "No Artificial Restructuring... Seeking Sustainable Growth Based on Employment Stability"

"Completion of Transactions in the Second Half of Next Year... Exploring Short- and Long-Term Plans for Sustainable Growth"

Hanchangsoo, President of Asiana Airlines, is giving a greeting at the 33rd Extraordinary General Meeting of Shareholders held on the morning of the 15th at Asiana Airlines headquarters in Gangseo-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Yoo Je-hoon] Han Chang-soo, President of Asiana Airlines, regarding the acquisition by Korean Air, stated, "There will be no artificial workforce restructuring even after the deal is finalized," and added, "I ask that you remain focused on your core duties without being swayed by unnecessary prejudgments or baseless speculative controversies."

In a statement sent to employees on the day, President Han said, "Going forward, both companies will seek short- and long-term measures to ensure the sustainable growth of the air transportation industry based on employment stability."

President Han first emphasized the decision to be acquired as "a policy decision by the government and creditors to fully preserve the competitiveness of the air transportation industry, a national key industry, amid the prolonged COVID-19 situation, and to strengthen competitiveness and ensure employment stability of executives and employees in preparation for the post-COVID era."

He then explained the acquisition schedule, saying, "Once the new share subscription agreement is signed, approvals for corporate mergers and other necessary government approvals will be obtained from competition authorities of several countries," and added, "The final deal closing and procedures are expected to be completed around the second half of next year."

President Han also seemed to address internal concerns about restructuring after the acquisition, emphasizing that there will be no artificial restructuring. He said, "Once the new share subscription agreement is signed, a deposit will be paid within the year, and according to the schedule, 1.8 trillion won of new capital will be injected," and urged, "Based on this, I hope everyone will do their best in their respective positions to overcome the current crisis and preserve competitiveness."

This content was produced with the assistance of AI translation services.