Korean Air is on the brink of finalizing its highly anticipated acquisition of South Korean competitor, Asiana Airlines, with plans to wrap up the deal "within days,” announced the carrier. The airline has expressed optimism about obtaining the final anti-trust approval from US regulators by the second week of December 2024, marking a significant milestone that will pave the way for the creation of one of the largest airline groups in Asia. This strategic move, valued at approximately 1.8 trillion won ($1.3 billion), was initially unveiled by the South Korea-based airline back in 2020, aiming to extend a lifeline to Asiana amidst its struggles exacerbated by the global pandemic. The merger seeks to bolster the position of the national carriers against formidable rivals like Cathay Pacific and Singapore Airlines in the region.

The looming approval from the US Department of Justice, identified as the final hurdle in the acquisition journey, is anticipated to be cleared by December 3, 2024. Korean Air has rescheduled the official date for gaining a majority share in Asiana to December 11, 2024, where it will acquire a 63.9% stake. While awaiting feedback from the US DOJ regarding the deal and the proposed timeline, Korean Air remains hopeful and proactively advancing toward solidifying its position in the market.

Upon completion of the acquisition, Korean Air revealed plans to streamline the operations of budget carriers under its Jin Air brand, effectively merging the low-cost subsidiaries Air Busan and Air Seoul. This consolidation could potentially position the newly formed budget carrier ahead of existing major players such as Jeju Air and T'way Air in Korea’s aviation landscape. Jin Air, established by Korean Air in January 2008, currently holds the distinction of being the nation's largest low-cost airline, boasting a diverse fleet of aircraft.

It is expected that following the integration, the Air Busan and Air Seoul brands will be phased out, consolidating the airline group under the Korean Air banner with an expanded Jin Air serving as its budget arm. A spokesperson for Korean Air confirmed to Pilotcenter.net News that the integration would unify Jin Air along with Air Busan and Air Seoul under the unified Jin Air brand, aligning with the airline's vision for a more agile and competitive market presence.

Air Busan, introduced by Asiana Airlines in 2007 as Busan International Airlines and later rebranded as Air Busan, currently operates a fleet of 22 aircraft serving a plethora of destinations across multiple countries. Similarly, Air Seoul, initiated by Asiana Airlines in 2015, flies a fleet of Airbus A321s to various destinations within and beyond Korea. Together, Jin Air, Air Busan, and Air Seoul manage a combined fleet, offering customers a wide array of travel options and contributing significantly to Korea's domestic and international aviation landscape.