Asiana Airlines shares jump ahead of board meeting on merger with Korean Air

ASIANA AIRLINES

30/10/2023 01:49

SEOUL, Oct 30 (Reuters) - Shares in South Korea's Asiana
Airlines  020560.KS  rose as much as 24% on Monday, backed by
expectations that a proposed merger with Korean Air Lines
 003490.KS  would proceed as board members met to decide whether
to sell off its cargo service.
    If approved, the move might help South Korea's biggest
carrier Korean Airlines  003490.KS  to win European Union
antitrust approval for acquiring Asiana Airlines.    
        Asiana Airlines said on Friday that it would hold a
board meeting on Monday to discuss whether to accept Korean
Air's proposal to the EU, according to its regulatory filing.  
  
    Reuters reported earlier that Korean Air would offer to sell
Asiana's air cargo business and divest routes to four EU cities.
    Asiana had no additional comment on the board meeting. 
    Separately, Korean Air will convene a board meeting on
Monday, said a company official who declined to share further
details.
    At the board meeting, the carrier is expected to finalise a
revised proposal to gain EU approval for its merger with Asiana
Airlines, Maeil Business Newspaper reported. 

 (Reporting by Ju-min Park and Heekyong Yang; Editing by Ed
Davies)
 ((ju-min.park@thomsonreuters.com; Reuters Messaging:
ju-min.park.thomsonreuters.com@reuters.net))