(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] On August 7, Korean Air announced that it has signed a Memorandum of Agreement (MOA) for the sale of Air Incheon and Asiana Airlines' cargo business. The transaction is valued at 470 billion won.

Korean Air explained that the decision to proceed with the contract was based on Air Incheon's reliability in cargo operations, its long-term business competitiveness, growth potential, and the ability to mobilize funds through a capable consortium.

To address the monopoly issue on European routes, Korean Air had previously selected Air Incheon as the preferred negotiator for the acquisition through its board meeting on June 17.

 

 

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