South Korea’s flag carrier Korean Air Lines has acquired a controlling stake in Asiana Airlines, combining the country’s biggest and second-largest airlines.

Going forward, the Korean/Asiana merger means Asiana will be run as a subsidiary with a separate brand for at least two years before integrating into one airline that retains the Korean Air name as outlined in the mergers and acquisition timeline parameters.

Korean Air said on Thursday it had completed its protracted purchase of South Korean rival Asiana Airlines, making it one of Asia's biggest carriers. The 1.8 trillion won ($1.3 billion) deal, the longest-ever merger to complete between airlines,

Find out about the mega-merger between Korean Air and Asiana Airlines and its implications for the global airline industry.

Korean Air has finally closed its acquisition of Asiana Airlines after acquiring a 63.88% ownership stake and making Asiana its subsidiary.

Korean Air said it had completed the payment of a total of 1.5 trillion won for a 63.88% stake in Asiana.

Korean Airlines and Asiana have received approval from most regulatory bodies to merge. However, one issue remains unresolved, the fleet.

Korean Air has completed the acquisition of compatriot Asiana Airlines, after successfully netting a 63.88% ownership stake in the latter.

Korean Air Co. plans to finalize its acquisition of a controlling stake in rival Asiana Airlines Inc. on Wednesday, completing the merger deal between South Korea's leading carriers that has been sought over the past four years,

Korean Air has finalized its acquisition of Asiana Airlines, allowing it to begin the next steps in merging the two carriers. Korean acquired newly issued shares in Asiana to gain a 63.88% ownership stake, which makes Asiana a subsidiary of Korean Air. Korean paid KRW800 billion ($559 million) to...

South Korea will support smaller airlines and monitor market competitiveness after dominant carrier Korean Air completed a $1.3 billion acquisition of Asiana Airlines on Thursday to create one of Asia's biggest carriers.