Korean Air said on Thursday it had completed its protracted purchase of South Korean rival Asiana Airlines, making it one of Asia's biggest carriers. The 1.8 trillion won ($1.3 billion) deal, the longest-ever merger to complete between airlines,

Korean Air said it had completed the payment of a total of 1.5 trillion won for a 63.88% stake in Asiana.

South Korea's flag carrier Korean Air said Thursday it had bought a majority stake in rival Asiana Airlines for $1 billion, making it the effective owner four years after first

South Korea will support smaller airlines and monitor market competitiveness after dominant carrier Korean Air completed a $1.3 billion acquisition of Asiana Airlines on Thursday to create one of Asia's biggest carriers.

Korean Air Co., South Korea's biggest airline, has successfully integrated local rival Asiana Airlines Inc. as a subsidiary, wrapping up a yearslong acquisition process, the company said Thursday. Korean Air spent 1.

South Korea plans to support low-cost carriers (LCCs) expanding medium- and long-haul routes to prevent Korean Air and Asiana Airlines, the country’s two largest airliners, from monopolizing the aviation market after their proposed merger.