Asiana was established on 17 February 1988 and started operations in December 1988 with flights to Busan. It was formed by the Kumho Asiana Group (formerly Kumho Group) as part of the South Korean government's policy to create a second flag carrier and was originally known as Seoul Air International. The South Korean government has given its approval for foreign ownership of the airline to increase from 20% to 50%. The airline is owned by private investors (30.53%), Kumho Industrial (29.51%), Kumho Petrochemical (15.05%), foreign investors (11.9%), Korea Development Bank (7.18%), and others (5.83%). It employs 7,799 staff (at March 2007).[5]
Asiana Airlines has rapidly expanded since its establishment in 1988 to become a midsized, global carrier with a fleet of 69 aircraft providing international services to 66 cities in 21 countries on 82 routes, and domestic services to 12 cities on 15 routes. In 2007, the airline had net sales of some US $3 billion.[6]
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