Seoul: Asiana Airlines Inc., the country's second-largest carrier, announced on Wednesday that its shareholders have approved the merger with Korean Air Co., marking the completion of nearly six years of acquisition efforts by the latter.

According to Yonhap News Agency, Asiana held an extraordinary shareholders' meeting where an overwhelming majority voted in favor of merging with the national flag carrier. This merger, initially announced by Korean Air in November 2020, involves a deal valued at 1.8 trillion won (US$1.6 billion) and is expected to create the world's 10th-largest airline by fleet size.

Asiana Chief Executive Officer (CEO) Song Bo-young expressed optimism about the merger, stating, "A mega-carrier to be created through the merger will be the first step toward writing a new history in South Korea's aviation industry." On the topic of integrating the airlines' mileage programs, Song mentioned that preparations are underway, pending a decision from the Fair Trade Commission.

The merger agreement between the two airlines was signed in May, and the newly merged entity, retaining the name Korean Air, is scheduled to commence operations on December 17. Consequently, the Asiana Airlines brand will be retired.

Additionally, Korean Air is set to hold a board meeting on Wednesday to finalize the merger proceedings with Asiana.