Delta Air Lines takes 4.3% from Korean Air’s majority shareholder
The two Skyteam partners have launched a joint venture on trans-Pacific lines almost a year ago to the day.
The American company Delta Air Lines announced the buyout of 4.3% of Hanjin KAL Corp capital, the main shareholder of Korean Air company (equal to 30%), with the ambition to rise up to 10% if regulative authority allows it.
A year ago, on May 2018, Delta Air Lines and Korean Air established a joint venture. The large trans-Pacific network created by this partnership offers Delta’s and Korean Air’s passengers an access to 290 destinations on the American continent and more than 80 in Asia. The airlines work side by side with optimized calendars, an integrated computerized system, a common service for commercial and marketing activities and a division of the offices. The development of this joint venture was facilitated by the relocation of Korean Air to the terminal 2 of Incheon airport alongside Delta.
Delta's CEO Ed Bastian said at the end of the announcement: “This is already one of our fastest-integrating and most successful partnerships, and experience tells us this investment will further strengthen our relationship as we continue to build on the value of the joint venture.”