Hanjin Group helps Korean Air take over Asiana

© Kova1ev

Hanjin Group is getting larger: this week it agreed a funding deal which will see it lend €68m to subsidiary Korean Air so it can buy rival Korean carrier Asiana. Korean Air will also increase its capital by €1.9bn by issuing new shares. There has been no word as yet on the merging of the cargo businesses, but Asiana operates 12 freighters, adding a significant list to KAL’s operation.