South Korea will support smaller airlines and monitor market competitiveness after dominant carrier Korean Air completed a $1.3 billion acquisition of Asiana Airlines on Thursday to create one of Asia's biggest carriers.

Korean Air said on Thursday it had completed its protracted purchase of South Korean rival Asiana Airlines, making it one of Asia's biggest carriers. The 1.8 trillion won ($1.3 billion) deal, the longest-ever merger to complete between airlines,

Find out about the mega-merger between Korean Air and Asiana Airlines and its implications for the global airline industry.

Korean Air will absorb Asiana after a two-year post-merger integration (PMI) process, while its budget carrier unit Jin Air Co. will absorb Asiana's low-cost units Air Seoul Inc. and Air Busan Co., a company spokesperson said by phone.

Korea's only dedicated cargo airline Air Incheon is preparing to launch a unified operation next July following its acquisition of Asiana Airlines' cargo division with Kim Kwan-sik appointed CEO to lead the effort.

Surprisingly, American Airlines operates just one route to South Korea, connecting Seoul Incheon International Airport (ICN) with its hub at Dallas/Fort Worth International Airport (DFW). On this route, the oneworld carrier competes with Korean Air.

Photo Credit: Thiago B Trvisan/Shutterstock Korean Airlines has completed its acquisition of Asiana, South Korea's second-largest carrier. The $1.3 billion deal, which gives Korean a 64% stake in Asiana, came four years after the airlines reached a ...

Korean Air has finally closed its acquisition of Asiana Airlines after acquiring a 63.88% ownership stake and making Asiana its subsidiary.

More route options and enhanced connectivity are underway for travelers from the Philippines as Korean Air (KE) acquired a majority stake in Asiana Air

Korean Air, South Korea's biggest airline, has successfully integrated local rival Asiana Airlines as a subsidiary, wrapping up a years-long acquisition process, the company said on Thursday.

SEOUL(Reuters) -- Korean Air has completed its protracted purchase of indebted South Korean rival Asiana Airlines ... unveiled four years ago by South Korea's largest carrier to rescue Asiana ...

Asiana Airlines is accelerating its efforts to improve its financial structure by repaying 1.1 trillion won in policy funds. On the 13th, Asiana Airlines announced that it would early repay 1.04 trillion won in borrowing funds to creditor banks (Industrial Bank of Korea and Export-Import Bank of Korea) on that day,