AIRZETA debuts as Korea’s no. 2 cargo carrier after Asiana deal

Korea’s sole all-cargo airline, Air Incheon, has officially rebranded under the name AIRZETA, after acquiring Asiana Airlines’ cargo business, becoming the nation's second-largest cargo carrier.

In a regulatory filing on Friday, Asiana Airlines announced that it had finalized the 470 billion won ($338 million) deal, nearly two years after receiving board approval in November 2023. Air Incheon was named the preferred bidder for Asiana’s cargo division in June 2024.

Asiana’s divestment was a condition set by global antitrust regulators, including the European Commission and Japan’s Fair Trade Commission, to approve Korean Air’s merger with its rival Asiana.

AIRZETA explained that the new name reflects its philosophy of connecting global cargo destinations from start to finish, like a journey that begins with A and passes through Z. The carrier also unveiled its new slogan: “Beyond Asia to the World.”

“We plan to make a greater leap toward innovation through this strategic integration,” AIRZETA CEO Kim Kwan-sik said during the launch ceremony on Friday. “Our goal is to become a leading air logistics platform by delivering faster, safer and more competitive services that offer optimized cargo solutions to our customers.”

Asiana Airlines also called the deal a meaningful step as it creates a unified national carrier with Korean Air, allowing Asiana to concentrate on passenger operations.

With the acquisition, AIRZETA now operates a fleet of 15 freighter aircraft, including 11 long-haul planes transferred from Asiana as well as four previously operated by Air Incheon.

The expanded fleet will operate on 21 strategic routes, making AIRZETA the nation’s second-largest cargo airline after Korean Air, which held a 67 percent market share last year. Its workforce has also grown to 1,000 with the addition of 800 employees from Asiana’s cargo unit.

As it positions itself as a global logistics hub, AIRZETA is committed to expanding in high-value cargo segments, including e-commerce and specialty freight.

According to Incheon International Airport Corp., the cargo carrier successfully launched its first official flight from the airport on Friday. The airline will now operate a combined network of short-haul routes, including China and Vietnam, and Asiana’s former long-haul routes to Europe and the Americas.