Delta increases stake in Korean Air parent company past 10%
Delta Air Lines has bumped up its stake in Korean Air’s controlling shareholder to 11%. A stock exchange disclosure by Hanjin KAL indicates that Delta owns 6.5m of its shares as of Feb 20, up from 5.5m shares or 9.21% previously, through “acquisition of shares due to trading”. The US carrier first acquired a 4.3% stake in Hanjin KAL last June, while indicating plans to target 10%. At the end of July, Delta grew its shareholdings to 5.13% and increased this further to 9.21% in September. The carriers launched an immunised joint venture across the Pacific in May 2018. The partnership has allowed both airlines to add new routes in the market, including from Boston and Minneapolis/St Paul to Seoul Incheon. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-26/sky/delta-increases-stake-in-korean-air-parent-company-past-10
https://portal.staralliance.com/cms/logo.png
Delta increases stake in Korean Air parent company past 10%
Delta Air Lines has bumped up its stake in Korean Air’s controlling shareholder to 11%. A stock exchange disclosure by Hanjin KAL indicates that Delta owns 6.5m of its shares as of Feb 20, up from 5.5m shares or 9.21% previously, through “acquisition of shares due to trading”. The US carrier first acquired a 4.3% stake in Hanjin KAL last June, while indicating plans to target 10%. At the end of July, Delta grew its shareholdings to 5.13% and increased this further to 9.21% in September. The carriers launched an immunised joint venture across the Pacific in May 2018. The partnership has allowed both airlines to add new routes in the market, including from Boston and Minneapolis/St Paul to Seoul Incheon. <br/>
