[New Year's Message] Asiana's New CEO: "We Will Maximize Synergy in the Integration with Korean Air"

Jeong Seong-gwon Appointed CEO "COVID-19 and M&A Integration in a Critical Phase... No Artificial Restructuring Expected"

[Asia Economy Reporter Yu Je-hoon] Jeong Seong-gwon, the designated CEO of Asiana Airlines, said on the 4th regarding the New Year's management policy, "In the process of integration with Korean Air, both companies will maximize synergy and establish a foundation for further development based on mutual growth."

Jeong stated in his New Year's address, "Asiana Airlines is facing a very severe situation of survival in the era of the COVID-19 pandemic and the acquisition integration with Korean Air," emphasizing this point.

Regarding the management environment this year, Jeong explained, "As the impact of COVID-19 prolongs, it will certainly not be favorable to us. The cargo business is expected to continue strong performance this year due to supply shortages, but passenger demand is forecasted to decrease compared to last year, as it will take considerable time to recover to 2019 levels even after the distribution of COVID-19 vaccines."

He added about the acquisition by Korean Air, "Since last month, the implementation for establishing the integration plan has begun, and this month, major countries' corporate merger notifications will also be processed. The acquisition procedure is expected to be finalized in line with the completion of approvals from each country, possibly by the end of the first half of the year."

Jeong also mentioned this year's management plans, saying, "We will deploy all available resources to actively respond to the increasing demand in the cargo business," and added, "We expect vaccine transportation to become a new source of revenue soon, and we will strive to lead the new market through thorough preparation."

Regarding the integration, he stated, "The Korea Development Bank and Korean Air have already stated multiple times that there will be no artificial restructuring, and we will continuously discuss necessary matters with the acquirer in this regard," emphasizing, "Even after the acquisition process is completed, we will work to lay the foundation so that our employees can fully demonstrate their abilities and the various strengths of Asiana Airlines become the driving force for future organizational development."

Jeong introduced this year's management policy as 'Turnaround 2021,' expressing confidence that "If all employees do their best in their respective positions, when the tunnel of COVID-19 comes to an end, we will leap higher," and pledged, "We will protect the core values of Asiana that have been cherished and do our utmost to normalize management as soon as possible."

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