The approval came at Asiana’s 2026 extraordinary general meeting of shareholders in Seoul, in what is expected to be the airline’s final shareholder meeting before it is absorbed into larger full-service carrier Korean Air.
About 180 shareholders, including those represented by proxy, participated in the meeting, representing 81.86 percent of voting shares. The merger proposal was approved with 99.33 percent of votes cast in favor.
The sole agenda item was approval of the merger agreement signed with Korean Air on May 14. Under the agreement, Asiana will be absorbed into Korean Air, with the integrated airline scheduled to launch on Dec. 17.
“It has been a long journey of more than five years since November 2020,” Asiana Airlines CEO Song Bo-young told shareholders.
“On Dec. 17, Asiana Airlines will successfully complete the business combination process with Korean Air and be reborn as an integrated Korean Air,” Song said, describing the merger as the first step toward a new chapter for South Korea’s aviation industry as a mega carrier.
Korean Air first announced plans to acquire Asiana in November 2020 as the smaller carrier struggled under a heavy debt burden and the collapse in global air travel during the COVID-19 pandemic.
Korean Air completed its acquisition of a 63.88 percent controlling stake in Asiana in December 2024 after securing competition approvals in 14 jurisdictions. Regulatory concessions included transferring some routes and airport slots to rivals and divesting Asiana’s cargo business.
The airlines have since operated separately while preparing for full legal and operational integration.
Song said Asiana would spend its remaining months reviewing preparations already made for the merger and ensuring the combined airline can generate synergies from the outset.
He said communication with employees and preventing disruption for passengers would be among the final priorities.
“Our ultimate goal is to return the benefits to our customers, so we are preparing to become an airline that is loved more than any other,” Song said. “We are also making every effort to prepare thoroughly so that customers do not experience inconvenience or confusion.”
Shareholders who spoke during the meeting largely backed the merger while acknowledging lingering concerns over regulatory concessions and the practical difficulties of combining two airlines.
“Some are concerned that conditions attached to the merger approval, including slot adjustments and the sale of the cargo business, could lead to a decline in corporate value, while there are also various concerns from consumers,” shareholder Kim Kyung-ho said.
Still, Kim said he expected the combined Korean Air to become more competitive in the global aviation market and urged management to ease market concerns and maximize shareholder value.
Another shareholder, Shin Hyuk-soo, also expressed his blessing.
“I hope the merger will maximize synergies between the two airlines and further strengthen their competitiveness in the global aviation market,” Shin said.
The Dec. 17 merger will go beyond Korean Air’s 2024 acquisition of control by bringing Asiana itself to an end as a separate airline.
Korean Air will become the surviving company, taking over Asiana’s assets, liabilities, employees and operating responsibilities as aircraft and systems are brought under a single organization.
The combination will also substantially enlarge Korean Air’s fleet.
Korean Air currently lists 162 aircraft, including 139 passenger jets and 23 freighters. Asiana lists 67 passenger aircraft, including six A380s, 15 A350s, eight Boeing 777s and 14 A330s.
On those current fleet numbers, the integrated carrier would operate about 229 aircraft — 206 passenger jets and 23 freighters — before accounting for any deliveries, retirements or lease returns before Dec. 17.
That would put the combined Korean Air among Asia’s largest full-service carriers.
Comparisons are complicated because some airlines count regional and low-cost subsidiaries in group fleet totals while others report only mainline aircraft.
A Reuters analysis based on Cirium and OAG data when Korean Air completed its Asiana acquisition in 2024 estimated the enlarged airline group would rank 12th globally by international capacity.
The 229-aircraft figure also excludes Jin Air, Air Busan and Air Seoul. Korean Air plans to combine the three low-cost units separately, under the wing of Jin Air, the LCC brand of Korean Air.
Asiana will also leave Star Alliance at 11:59 p.m. on Dec. 16, ending more than two decades of membership. Its customers will move into Korean Air’s SkyTeam network from the following day.
The enlarged carrier will therefore gain not only aircraft but also a wider international network and larger customer base, while eliminating much of the overlap between South Korea’s two longtime full-service airlines.
For passengers, one of the most closely watched issues remains what happens to Asiana mileage.
Korean Air has proposed keeping existing Asiana mileage accounts separate for 10 years after the merger while giving customers the option of converting them into Korean Air’s SKYPASS miles.
Under the proposal, miles earned from flights would be converted at a 1-to-1 ratio, while those accumulated through credit cards and other affiliated programs would be converted at 1 to 0.82.
That means 10,000 Asiana partner miles would become 8,200 Korean Air miles if converted.
Korean Air initially proposed a lower conversion ratio before revising its plan following scrutiny from the Fair Trade Commission.
The regulator has sought stronger consumer safeguards, including improvements to mileage redemption options and the availability of award tickets and seat upgrades.
Asked Wednesday about the mileage program, Song said the company was still waiting for the regulator’s decision.
The proposed ratios therefore remain subject to final regulatory approval.
Another unresolved issue lies in the cockpit.
Integrating Korean Air and Asiana pilots has proved particularly sensitive because seniority can determine promotions, compensation, aircraft assignments and career progression.
Different hiring and career systems at the two airlines have fueled disagreements over how pilots should be ranked after the merger.
The tensions spilled into a legal dispute earlier this year after the head of Asiana Airlines’ pilots union argued in an official letter that many pilots had joined Korean Air after failing to enter Asiana and suggested civilian-background pilots at Asiana had entered the carrier earlier because of stronger qualifications.
A screenshot of the letter was later posted on Blind, an anonymous workplace community widely used by aviation industry employees.
Some Korean Air pilots subsequently filed a defamation complaint against the Asiana union chief, arguing that the remarks had damaged their reputation.
Police decided on July 30 not to refer the case for prosecution, citing insufficient evidence.
The Asiana union later said it would not pursue further action and would seek to put aside its differences with the Korean Air pilots union as the merger approaches.
Song played down concerns over the pilot seniority dispute in June, saying standards were being established and efforts were under way to resolve the issue.
Korean Air has said it does not plan artificial workforce restructuring as part of the merger, meaning much of the integration challenge will involve combining employees, aircraft and operating systems rather than simply cutting overlapping jobs.
With shareholder approval secured, the focus now moves from completing the merger to making the enlarged airline work.
Asiana, which began operations in 1988 and spent decades as one of South Korea’s two major full-service carriers, now has just four months left as an independent airline.
On Dec. 17, its name will disappear from the skies, its aircraft will join Korean Air’s fleet and a merger process stretching back to 2020 will give way to the harder task of turning two airlines into one.
AJP Takeaways
△ Asiana Airlines shareholders approved the carrier’s merger with Korean Air, clearing a key step toward the launch of the integrated airline on Dec. 17, 2026.
△ Mileage integration remains a major consumer issue, with Korean Air proposing a 1:1 conversion for flight-earned Asiana miles and a 1:0.82 ratio for credit card and partner miles, pending Fair Trade Commission approval.
△ Pilot integration is another unresolved challenge, as Korean Air and Asiana continue to address seniority, personnel standards and lingering labor tensions ahead of the full merger.
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