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“Abroad will not be a monopoly problem … Keep a brand after integration”
[유튜브 캡처. 재판매 및 DB 금지]
(Seoul = Yonhap News) Choi Pyeong-cheon, reporter Kwon Hee-won = Korean Air[003490]Lee Asiana Airlines[020560] He reiterated that there is no artificial restructuring after the acquisition.
Although KCGI’s application for an interim court order to prevent the takeover was turned down, it was turned over, but as the union was still skeptical of the takeover due to unstable employment, it actively convinced the union.
Korean Air President Woo Ki-hong said at an online press conference on the 2nd: “There are 28,000 employees of Korean Air and Asiana Airlines, and more than 95% of them are direct staff.” The number of people is reduced. about 1,000 people a year, so it can be absorbed enough “.
“Korea Development Bank president and Hanjin Group president Cho Won-tae said there was no restructuring,” he said. “The contract has been confirmed and the responsible people have promised it, so the union will trust it.”
Rather, he stressed that there will be synergy in integration rather than labor reduction. “The Korea Development Bank president said the combined synergy effect is KRW 300 billion per year based on the accounting firm’s estimate,” he said. “More synergies are expected, such as attracting transit demand and improving aircraft utilization rates.”
Korean Air plans to continue using the existing Korean Air brand rather than launching a new brand after integration.
President Woo said: “It is not appropriate to create a third new brand considering time and cost,” he said. “We are going to review ways to use unused brands.”
Regarding the future acquisition program, he replied that “Korean Air will form an acquisition committee with experts in every field”.
President Woo said: “On January 6 (for the paid-up capital increase) a general meeting of shareholders will be held to amend the bylaws”. You will understand.”
He said, “We plan to submit a business combination approval (report) to the competition authorities of each country by January 14 next year,” he said. “We will draw up an integration plan by March 17”.
“There will be no monopoly on the Korean market except for some long-distance routes,” Woo said. “Overseas, there aren’t many routes with a high market share like Korea, so it won’t be a big deal.”
He pointed out that although low-cost airlines (LCCs) such as Jin Air, Air Seoul and Air Busan, sister and subsidiary of Korean Air and Asiana Airlines, are integrated, they do not create monopoly because they operate separately from Korean Air.
President Woo added: “Jin Air and Air Seoul operate mainly in Incheon and Air Busan is operational.”
In addition, “more than 50% of Korean Air employees are closed and have received subsidies from the government to keep their jobs and in principle new hires are prohibited”. She said.
As for the plan to create a separate company by separating the MRO (maintenance) organization of Korean Air and Asiana Airlines, which are discussed by some, he drew a line, saying, “Korean Air has a remarkable ability to repair aircraft and does not think of a separate company “.
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2020/12/02 16:02 sent
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