South Korea's Korean Air to buy rival Asiana Airlines

Korean Air Lines Co., South Korea's No. 1 carrier, decided at a board meeting on Monday to buy smaller rival Asiana Airlines Inc. for 1.8 trillion won ($1.62 billion), the company said.The major reorganization of the aviation industry in South Korea comes as airlines worldwide struggle financially due to a sharp fall in air travels amid the coronavirus pandemic.When including budget carriers under their wings, the two airlines together command a 62.5 percent market share in domestic routes, according to local media. The Korea Fair Trade Commission must approve the acquisition.Hanjin Group C…READ FULL ARTICLE