(ATTN: UPDATES with details in paras 6, 8-9; CHANGES photo)

SEOUL, Aug. 12 (Yonhap) -- Asiana Airlines Inc., the country's second-largest carrier, said Wednesday its shareholders have approved its merger with larger rival Korean Air Co., wrapping up nearly six years of the latter's acquisition process.

Asiana held an extraordinary shareholders' meeting to vote on the merger, with an overwhelming majority of shareholders voting in favor of the deal with the national flag carrier, a company spokesperson said.

In November 2020, Korean Air announced plans to acquire Asiana in a deal valued at 1.8 trillion won (US$1.6 billion), a move that would create the world's 10th-largest airline by fleet size.

"A mega-carrier to be created through the merger will be the first step toward writing a new history in South Korea's aviation industry," Asiana Chief Executive Officer (CEO) Song Bo-young told reporters on the sidelines of the shareholders' meeting.

Regarding the integration of the two airlines' mileage programs, Song said the company is making preparations and awaits a decision from the Fair Trade Commission.

Later in the day, Korean Air's board of directors also approved the merger with Asiana Airlines.

The two airlines signed a merger agreement in May, and the merged entity, to be named Korean Air, is scheduled to launch on Dec. 17.

The transport ministry approved the merger the following month, on the condition that Korean Air ensure aviation safety and passenger convenience.

The Asiana Airlines brand will be discontinued.

kyongae.choi@yna.co.kr

(END)

  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • Gemini, BTS collaboration on display at Las Vegas Sphere
  • U.S. Marines stage live-fire drills involving FPV drones for 1st time in S. Korea

  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour

  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • U.S. Marines stage live-fire drills involving FPV drones for 1st time in S. Korea
  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • (LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • Actor Ha Young apologizes over controversy surrounding family's pro-Japanese past

  • 2 ex-Chinese military officers arrested over alleged eavesdropping, leaks
  • Seoul cautious about Ukraine's defense request amid claims more N. Korean troops being sent to Russia
  • (2nd LD) N. Korea fires 1 ballistic missile toward East Sea: S. Korean military
  • N. Korea fires unidentified projectile eastward: S. Korean military