Asiana Airlines Headquarters Building. (Photo = Asiana Airlines)

 

[Alpha Biz= Kim Jisun] Asiana Airlines announced on Thursday that its board of directors has approved a spin-off and merger plan to sell its cargo transport business to Air Incheon.

This decision comes as part of conditions set by the European Union (EU) competition authorities for approving the merger between Korean Air and Asiana Airlines.

The transaction is valued at KRW 470 billion. Asiana Airlines plans to hold a shareholders' meeting on February 25 to finalize the spin-off and merger agreement.

 

 

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