This is an amended filing
Asiana Airlines Inc. Jin Air to absorb Air Busan and Air Seoul; share buyback price KRW 1,495 per share
AAI summary · Not investment advice
Air Busan will be absorbed by Jin Air at a ratio of 0.2862684, and shareholders who object can sell their shares back to the company at KRW 1,495 per share.
Key facts
- Merger counterparty
- Jin Air Co., Ltd.Affiliate
- Merger date
- Mar 16, 2027
- Appraisal price per share
- KRW 1,495For Air Busan shares
- Appraisal rights period
- Dec 7, 2026 to Dec 28, 2026
- Merger method
- Jin Air absorbs Air Busan and Air Seoul in a mergerSurviving company: Jin Air; dissolving companies: Air Busan and Air Seoul
- Purpose of merger
- Create synergies through integration of management resources, strengthen business competitiveness and improve management efficiency
- Shareholders' meeting date
- Dec 7, 2026
- Board resolution date
- Aug 21, 2026
- Subsidiary
- Air Busan Co., Ltd.
- % of total assets
- 11.92%Relative to the controlling company's consolidated total assets
Commentary
AI commentary · Not investment advice
What happened
Air Busan, a subsidiary of Asiana Airlines, will be merged into its affiliate Jin Air. Jin Air will absorb both Air Busan and Air Seoul in an absorption merger (one company takes over others, which then cease to exist). Jin Air survives, while Air Busan and Air Seoul disappear. The stated purpose is to create synergy by combining management resources, strengthen business competitiveness and improve efficiency. Jin Air will issue 50,324,853 new common shares. The exchange ratio is 0.2862684.
In the company's terms
Air Busan accounts for 11.92% of the parent's consolidated total assets.
What changes for shareholders
Air Busan shareholders who oppose the merger can use appraisal rights (the right to sell shares to the company at a set price). The price is KRW 1,495 per Air Busan share. The period to notify opposition runs from November 20, 2026 to December 6, 2026. The shareholders' meeting is on December 7, 2026. The period to apply to sell shares to the company runs from December 7, 2026 to December 28, 2026. Creditors can object from December 7, 2026 to January 8, 2027. The merger date is March 16, 2027. Registration of the merger is scheduled for March 17, 2027.
Comments
No comments yet
Comments from shareholders will appear here.
Get the next disclosure as an app alert
Get app alerts for new disclosures and stake changes on your watchlist