Korean Air to generate more synergy after Asiana takeover

Korean Air will be able to create more tangible synergy after completing its long-awaited takeover of Asiana Airlines, market watchers said Sunday. Last week, the flag carrier finished its transaction to acquire Asiana by paying the remaining cost for the high-profile acquisition. This is a symbolic milestone that the airline has achieved in almost four years after it announced the plan on November 2020. The integration of the two airlines will elevate Korea’s position in the global aviation industry, as their combined passenger transportation distance would rank among the global top 10, according to Korean Air. Industry officials said the synergy from the acquisition will materialize rapidly particularly because of Korean Air’s world-class operational expertise, which will be a significant asset for Asiana. “This merger is not about one airline disappearing, which would reduce the market and competition,” an official from the aviation industry said. “It is an opportunity to lay the foundation for healthy growth in the industry, with the potential for both airlines to rise together. With the merger, long-haul route competitiveness will be enhanced, and large-scale synergy will arise through network efficiency."<br/>