"Asiana Board's Last-Minute Struggle Over 'Cargo Sale Discussion'... Resumes After Recess"

It Seems a Decision Will Be Made by Tomorrow at the Latest

The Asiana Airlines board of directors, currently discussing the potential sale of its cargo business, continued the meeting late into the afternoon on the 30th without reaching a conclusion.

Korean Air and Asiana Airlines held a board meeting on the 30th, which will be the biggest turning point in their merger. The photo shows the Asiana Airlines headquarters in Osoe-dong, Gangseo-gu. Photo by Yongjun Cho jun21@

According to industry sources, the Asiana Airlines board meeting, which began at 2 p.m. at an undisclosed location in Seoul, was temporarily adjourned in the afternoon and resumed around 6 p.m. The prolonged meeting is reportedly due to some directors deliberating extensively over whether to approve the sale of Asiana Airlines' cargo business.

At the extraordinary board meeting held that day, the issue of separating and selling the cargo business was discussed. The board convened to decide whether to agree to the corrective measures that Korean Air plans to submit to the European Union (EU) Commission regarding the corporate merger.

The EU Commission raised concerns about "restrictions on competition in European cargo routes" related to the merger between Korean Air and Asiana Airlines and requested corrective measures from Korean Air. The sale of Asiana Airlines' cargo business has consistently been mentioned as a corrective measure. To obtain EU approval, the sale of Asiana Airlines' cargo business is inevitable, and Korean Air intends to include this in the corrective measures submitted to the EU.

The board is expected to make a final decision late at night on the 30th or by the morning of the 31st. Even if a conclusion is reached on the 30th, it may be difficult to immediately announce the results through a public disclosure, as the disclosure deadline is 7 p.m.

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