Korean Air CEO Walter Cho expects the US to approve the proposed merger with Asiana Airlines by the end of October. He emphasized that they have fulfilled all the requirements set by the US and EU regulators, indicating that they do not plan to make further concessions. This anticipation of approval comes after securing consent from competition authorities in the EU and Japan earlier this year, leaving the US as the final jurisdiction to respond to Korean Air's three-year effort to obtain regulatory approval internationally. Despite the delay in the merger process, Cho believes that the merger will be advantageous for customers, Korean Air, and Asiana Airlines. In addition to the merger, Korean Air is contemplating the possibility of combining three low-cost carriers, including its subsidiary Jin Air, with Asiana Airlines' Air Busan and Air Seoul. Furthermore, the company is considering the acquisition of up to 30 new jets, potentially from Boeing or Airbus, and is also contemplating adding more cargo aircraft to its fleet. Regarding its financial performance, Korean Air has stated that its profitability remains strong, mainly driven by its cargo business, and is confident that this trend will persist in the future. Cho also mentioned that the company's decision on purchasing new aircraft, such as Boeing's 787 Dreamliner and additional A350s, is anticipated to be made at the upcoming Farnborough Airshow in July.
Korean Air CEO Walter Cho expects the US to approve the proposed merger with Asiana Airlines by the end of October. He emphasized that they have fulfilled all the requirements set by the US and EU regulators, indicating that they do not plan to make further concessions. This anticipation of approval comes after securing consent from competition authorities in the EU and Japan earlier this year, leaving the US as the final jurisdiction to respond to Korean Air's three-year effort to obtain regulatory approval internationally. Despite the delay in the merger process, Cho believes that the merger will be advantageous for customers, Korean Air, and Asiana Airlines. In addition to the merger, Korean Air is contemplating the possibility of combining three low-cost carriers, including its subsidiary Jin Air, with Asiana Airlines' Air Busan and Air Seoul. Furthermore, the company is considering the acquisition of up to 30 new jets, potentially from Boeing or Airbus, and is also contemplating adding more cargo aircraft to its fleet. Regarding its financial performance, Korean Air has stated that its profitability remains strong, mainly driven by its cargo business, and is confident that this trend will persist in the future. Cho also mentioned that the company's decision on purchasing new aircraft, such as Boeing's 787 Dreamliner and additional A350s, is anticipated to be made at the upcoming Farnborough Airshow in July.