In a move to bolster South Korean commercial air travel, Korean Air announced today that they acquiring rival Asiana Airlines for over $1.6B USD. This merger would put the new Korean Air in the top ten in terms of airline size. The move by Korean Air's parent company Hanjin KAL, was partially due to the effects of the China Corona Virus pandemic on the airline industry as a whole. Prior to the pandemic, Asiana was experiencing financial troubles, and the current state of affairs made their situation much worse. This move should ensure the survivability of the South Korean airline industry, especially when it comes to international routes. The combined fleet will be over 250 aircraft with many common types.
Further details in this SamChui.com article.