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Korean Air signs contract with Air Incheon, making progress in Asiana Airlines takeover plan

( August 8, 2024, 04:34 GMT | Official Statement) -- MLex Summary: Korean Air announced today that it has signed a framework agreement with Air Incheon for the planned sale of Asiana Airlines’ global cargo-freighter business. Incheon was selected as the preferred bidder to acquire the business, which was a condition for the European Union’s approval in February of Korean Air’s proposed takeover of Asiana. Korean Air disclosed to the stock exchange that the sale would be valued at 470 billion won ($341.5 million).The statement, in Korean, is attached....

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