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South Korea, China and Japan have agreed to a new air corridor over the sea south of Jeju Island following safety concerns over the growing air traffic in one of the busiest airspaces in the world, according to the South Korean Ministry of Land, Infrastructure and Transport.
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Flag carrier Korean Air moves closer towards acquisition of Asiana
Thu, 7 January 2021
Shareholders of Korean Air Lines Co agreed to change its corporate mandate to clear a hurdle for its takeover of Asiana Airlines, the airline said on January 6.
In a meeting at its headquarters in Seoul, nearly 70 per cent of stockholders who were present voted to pass an amendment of an article, drastically lifting the cap on total outstanding stocks from 250 million to 700 million.
With the amendment, the company can push ahead with its plan to issue 173.6 million new shares to raise capital and realign stockholding status necessary to bring the long-time rival Asiana under its roof.