From Investing.com: 2024-07-12 01:00:30

Air Incheon plans to buy Asiana Airlines’ cargo unit, becoming South Korea’s second-largest freight carrier. They will consider Boeing and Airbus freighters to update their fleet. The deal would transfer Asiana’s fleet, staff, customers, and traffic rights to Air Incheon, allowing them to fly to major export hubs and the U.S.

Asiana Airlines operates 11 Boeing 767 and 747 freighters to 25 cities in 12 countries. The acquisition includes rights to fly to Chinese export hubs and the U.S. Air Incheon aims to become a global charter and wet-lease provider while selling space to logistics firms. They plan to gradually update Asiana’s ageing widebody fleet.

Air Incheon is discussing converted Boeing 777-300ERs, Boeing 777 factory freighters, or Airbus A350 freighters with manufacturers. The Asiana Pilot Union is unhappy with the deal, with over 100 cargo pilots indicating they will resign if transferred. Air Incheon plans to offer similar benefits to retain Asiana staff.

Korean Air has received approval from 13 competition authorities for the Asiana deal. The final U.S. decision is anticipated by the end of October. Air Incheon intends to sell space directly to logistics firms.



Read more at Investing.com: Air Incheon to consider widebody freighter orders after Asiana cargo purchase By Reuters