Korean Air to acquire remaining 80% stake in Korean Air C&D Service for 750 billion KRW, becoming 100% owner... Aimed at stabilizing in-flight meal supply, closing date postponed to end-July due to FTC approval delay
Korean Air decided to acquire the remaining 80% stake (5,010,343 shares) in Korean Air C&D Service for 750 billion KRW, making it a wholly-owned subsidiary. (Expected closing date postponed to July 31, 2026.)
The target company operates in-flight meal supply and duty-free sales, reporting 2024 consolidated revenue of 666.5 billion KRW and net profit of 37.9 billion KRW.
This acquisition is part of an internalization strategy to secure stable in-flight meal supply, adding to the existing 20% stake.
The original closing date of June 1 was revised to July 31 due to delays in Fair Trade Commission merger approval; further updates will be disclosed upon approval.
The consideration is fully in cash, with no equity issuance or dilution.
[AI Comprehensive Analysis]This amendment merely adjusts the schedule of a previously announced decision. While the strategic internalization is positive for long-term value, the cash outflow of 750 billion KRW and regulatory uncertainty present temporary risks. Overall impact on shareholder value is limited and neutral.
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations