Hanjin Kal, the parent company of South Korean flag carrier Korean Air, said on Monday that Delta Air Lines has raised its stake in the company.
Delta and Korean Air have a partnership on routes and networks. Delta increased its stake in Hanjin Kal to 11% as of February 21 from 9.21% as of September 6 for investment purposes, Hanjin Kal said in a regulatory filing.
The stake increase comes amid a family feud between Korean Air’s CEO and group chairman Cho Won-Tae and his sister, who has joined forces with a local activist fund and a construction firm, ahead of a Hanjin Kal shareholders meeting in March.
Source: Reuters.com