[Photo] Delta firmly states purchase of Hanjin KAL is just an “investment”

In response to an inquiry from the Korea Corporate Governance Improvement (KCGI) fund regarding its intentions behind purchasing a 4.3% stake in Hanjin KAL, the parent company of Korean Air, Delta Airlines said the purchase was simply an “investment” in a partner, adding that it had made no prior agreements with Hanjin KAL regarding the purchase. Delta added that it did not stand on either side in the dispute between KCGI and Hanjin KAL. Last year, Delta and Hanjin-KAL formed a joint venture to build an expanded network of trans-Pacific routes, which the KCGI saw as a potential reason for the US carrier to help the family of former Hanjin Group Chairman Cho Yang-ho, who passed away in April, retain management control. (provided by Delta Airlines)