Japan Airlines Reportedly Acquires Hanjin KAL Stake, Signs Korean Air Partnership

SEOUL — Japan Airlines (JL) reportedly acquired an undisclosed stake in Hanjin KAL, Korean Air's (KE) holding company, as the airlines signed a strategic partnership in Tokyo.

Seoul Economic Daily reported that the investment accompanied a strategic partnership announced in Tokyo on September 3. ChosunBiz separately reported that no filing for ownership of at least 5% had appeared by September 4. Neither outlet gave the investment amount or JAL's exact holding.

The airlines' public statements confirm the partnership, but the releases reviewed by Airways do not disclose the share purchase. They also do not state that JAL has agreed to vote with Hanjin Group Chairman Walter Cho or otherwise support him in shareholder votes.

Asiana Integration Could Widen the Partnership

JAL and Korean Air signed a memorandum of understanding covering a broader strategic partnership. JAL said existing codeshare and frequent-flyer ties would be evaluated and progressively aligned with the network created when Korean Air integrates Asiana Airlines (OZ) on December 17.

That wording describes a planned expansion rather than an immediate timetable change. Yonhap reported, citing Japanese newspaper coverage, that Korean Air's Japan operation is expected to grow from about 250 to about 400 weekly flights after the integration. JAL's announcement does not say that all 400 flights will carry JAL's code, and the reviewed airline announcements do not include a route-by-route list or implementation date.

The commercial relationship crosses global-alliance lines. Korean Air helped found SkyTeam in 2000. JAL and Korean Air began codesharing in August 2004, before JAL joined oneworld in 2007, and JAL extended its code to all Korean Air-operated routes between Japan and South Korea in 2014. Their agreement is bilateral, not a change in either airline's global-alliance membership.

Asiana's integration would bring a larger network into the bilateral relationship. Airways previously reported that Korean Air completed its acquisition of a 63.88% stake in Asiana in December 2024. Asiana is scheduled to leave Star Alliance at 23:59 Korean Standard Time on December 16, immediately before the integration date cited by JAL.

Cooperation Extends Beyond Passenger Flights

Korean Air's September 3 announcement says the carriers plan to deepen passenger and cargo cooperation. They will also explore joint work in ground handling and aircraft maintenance, along with initiatives involving sustainable aviation fuel (SAF).

The reviewed airline releases do not specify locations, investment commitments, savings targets or launch dates. Secondary reports have described possible work on shared cargo terminals, joint startup investments, urban air mobility and cabin-crew training. Those elements were not specified in the airline statements reviewed by Airways and remain proposals rather than operating programs.

Investment Draws Attention to Hanjin KAL Shareholder Balance

JAL's reported share purchase has also drawn attention to Hanjin KAL's shareholder balance. Financial-disclosure data cited by Asia Business Daily put Cho's side at 20.57% of Hanjin KAL at the end of March. Hoban Group raised its interest to 20.15% in July, leaving a gap of 0.42 percentage points between the two holdings.

Korean reports have therefore characterized JAL as a possible friendly shareholder for Cho. That interpretation is not a disclosed transaction term. JAL's stake, voting plans and any shareholder arrangements remain unknown, and Korean Air described the purchase to ChosunBiz as JAL's independent investment based on Hanjin KAL's long-term market value.

The next scheduled airline milestone is Asiana's December 17 integration. Before passengers can assess the effect, JAL and Korean Air still need to identify the added codeshare flights, mileage-program rules and implementation dates. The same distinction applies to the broader operating partnership: the companies have announced areas of work, not a completed integration of their passenger, cargo or maintenance operations.