Korean Air selects Air Incheon as the preferred bidder for Asiana Airlines’ cargo business

Korean Air has chosen Air Incheon as the preferred bidder for Asiana Airlines’ cargo freighter business, following a decision by its Board of Directors on June 17, 2024. The selection criteria included transaction completion certainty, long-term competitiveness enhancement, and financial mobilisation capability.

Air Incheon, established in 2012 and Korea’s sole all-cargo airline, aims to boost its competitiveness by leveraging Asiana’s extensive long-haul network and larger cargo aircraft.

A framework agreement is expected in July, pending a European Commission review. Korean Air emphasises the importance of this transaction for the air cargo industry and aims for swift finalisation through negotiations.