Air Incheon to Amend AOC After EU Approval for Cargo Acquisition
Air Incheon (KJ) plans to amend its Air Operator’s Certificate (AOC) following European Commission approval for its acquisition of Asiana Airlines’ cargo division. This transaction is part of antitrust remedies proposed by Korean Air to gain approval for its merger with Asiana Airlines.
The South Korean cargo airline will seek approval from the Ministry of Land, Infrastructure and Transport to update its AOC by February or March 2025. The transfer of the first of Asiana’s 12 Boeing B747-400 freighters is expected shortly after, with the entire fleet—including one B767-300F—anticipated to transition by mid-2025. The total deal value stands at KRW470 billion (USD332 million).
The European Commission’s November 28 decision identified Air Incheon as an independent and financially capable operator with the expertise to maintain and grow Asiana’s cargo operations. The approval highlighted Air Incheon’s independence from Korean Air and Asiana, its robust financial standing, and its operational base at Incheon International Airport.
This acquisition includes Asiana’s freighter fleet, key contracts, and select employees, ensuring continued competition in the cargo market. The deal also aligns with Korean Air’s commitments to address competition concerns raised by the European Commission during the merger review.
Once finalized, this strategic acquisition is expected to strengthen Air Incheon’s market position while maintaining healthy competition in South Korea’s air cargo sector. The regulatory amendment and fleet integration are pivotal steps toward completing the transition.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com