Delta Air Lines hikes stake in Hanjin Kal to 9.21%


SEOUL, Sept 10 (Reuters) - Delta Air Lines DAL.N raised its stake in Korean Air Lines' parent company Hanjin Kal 180640.KS to 9.21% from 5.13%, giving a boost to the management of South Korea's top carrier that seeks to thwart a local activist fund's challenge.

Delta said in June that it plans to increase its equity stake in Hanjin Kal to 10% over time.

If the No.2 U.S. carrier, which has a joint venture with Korean Air Lines 003490.KS, raises its stake to 10% in Hanjin Kal, the airline's founding family and its allies will have a total stake of 39%, versus the 16% stake held by the local activist fund, Korea Corporate Governance Improvement.

(Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Himani Sarkar)

((; +82 2 3704 5647;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.