South Korea's top airline Korean Air is pushing ahead in its bid to acquire its biggest local rival, Asiana Airlines. At a closed-door ministerial meeting Monday, sources say government officials gave their approval for Hanjin Group, the owner of Korean Air, to takeover cash-strapped Asiana,… the nation's second-largest full-service carrier. Under a potential deal, the state-run Korea Development Bank would inject around 722 million U.S. dollars to enable Korean Air to purchase an almost 30-point-eight percent stake in Asiana Airlines. If the merger happens, Korean Air will become one of the top 10 carriers in the world.
