Korean Air Appoints CEOs for Asiana, Air Seoul, and Air Busan
Korean Air has appointed new CEOs at its recently acquired subsidiaries, Asiana Airlines, Air Seoul, and Air Busan, as part of its strategic integration plan. Song Bo-young, formerly Korean Air’s head of passenger sales and network, assumed the role of CEO at Asiana on January 16. Kim Jung-ho, a senior vice president at Korean Air, became CEO of Air Seoul, while Jeong Byeong-seop, executive director of passenger sales, took the helm at Air Busan on January 17.
The leadership changes are aimed at streamlining the integration process and addressing internal concerns as Korean Air incorporates Asiana into its operations, a process expected to take up to two years. The restructuring will also see Air Busan and Air Seoul merged into Jin Air, Korean Air’s budget airline, creating South Korea’s largest low-cost carrier.
Korean Air Chairman Cho Won-tae emphasized the importance of preserving Asiana’s corporate culture during the integration, even as the Asiana brand and logos are phased out. Recent weeks have seen a shake-up at Asiana, with 12 executives resigning and being replaced by Korean Air appointees.
The airline also raised KRW200 billion (USD138.5 million) through an oversubscribed bond issue to repay debt, signaling strong market confidence. The funds will support the company’s ongoing integration efforts and financial stability.
The executive appointments and integration plans reflect Korean Air’s strategy to strengthen its position in the regional aviation market and enhance its competitive edge.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com