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[Alpha Biz=(Chicago) Reporter Kim Jisun] Korean Air has decided to review its plan to sell Asiana's cargo business ahead of its merger with Asiana Airlines, but to help the company maintain employment and improve treatment.
According to the industry on the 24th, Korean Air (003490) will discuss the agreement with the board of directors to be held on the 30th.
The main goal is to negotiate on the premise of "job security and improving treatment" with the other party who sells Asiana Airlines' cargo business after obtaining approval for a business combination in the future.
Earlier, Korean Air reportedly decided to sell Asiana's cargo business to complete a business combination with Asiana Airlines.
The business combination of the two companies requires approval from rival authorities, including the European Union, the U.S. and Japan, as the rival EU Commission has called on Korean Air to take corrective action, saying it is concerned about "competition restrictions on European cargo routes."
Therefore, Korean Air has decided to include the sale of Asiana Airlines' cargo business in the corrective measures to be submitted to the EU Commission.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
