Aviation news international – Korean Air (KE, Seoul Incheon) has accepted most of the conditions imposed by European Commission regulators to secure approval for its proposed merger with Asiana Airlines (OZ, Seoul Incheon), and it will formally submit an amended application to Brussels on September 27 accepting those conditions, Yonhap News Agency reported.
The conditions include selling Asiana’s profitable cargo arm, exiting certain routes between South Korea and the European Union, and giving up slots at some EU airports. The routes that Korean Air or Asiana have proposed dropping include Seoul Incheon – Rome Fiumicino; Seoul Incheon – Paris CDG; Seoul Incheon – Frankfurt International; and Seoul Incheon – Barcelona El Prat.
ch-aviation capacities data reveals Korean Air and Asiana have a combined 60.06% market share (measured by seat capacity) on the Frankfurt route, which they share with Air Premia (YP, Seoul Incheon) and Lufthansa (LH, Frankfurt International). They have a combined 67.01% market share on the Paris route with Air France (AF, Paris CDG) taking…
AIP Capital takes 10% stake in Korea’s Eastar Jet
08.09.2023 – 01:01 UTCAviation asset management and investment firm AIP Capital has taken a stake in Eastar Jet (ZE, Seoul Gimpo) in a limited partnership deal with VIG Partners, the South Korean private equity entity that acquired 100% of the low-cost carrier earlier this year. The dollar value of the transaction, announced on September 5, was not disclosed. However, an AIP spokesperson told ch-aviation they had secured a 10% stake.
As part of the deal, AIP will place five B737-8s at Eastar Jet. Two of those planes, HL8542 (msn 44304) and HL8543 (msn 44305) arrived at Eastar Jet in August, while the third, N798BA (msn 44308), will be delivered to the airline in September, with the final two in the third quarter of 2024. 777 Partners owns AIP Capital. It also recently acquired a 30% stake in Dreamstone Aviation Partners, a subsidiary of Dreamstone Partners, to expand its business in the Asia Pacific region. Founded earlier this year, AIP Capital says it has USD10 billion of capital deployed across debt and equity in the aviation…
