[THE INVESTOR] Korean Air and its joint venture with US carrier Delta has received a regulatory approval from the US government, the company said on Nov. 19.

Korean Air and Delta are now waiting for an approval from the Ministry of Land, Infrastructure, and Transport in Korea, it added. 

Hanjin Group Chairman Cho Yang-ho (fourth from right), Korean Air President Cho Won-tae (third from right), Delta Air Lines CEO Ed Bastian (fourth from left), and Delta Air Lines President of International Steve Sear (third from left) hold hands at an event held to celebrate the joint venture between the two carriers, at the Wilshire Grand Center in Los Angeles on Jun. 23. Korean Air

If approved by the Korean transport ministry, Korean Air and Delta will accelerate implementing services to increase their footings in the trans-Pacific market.

Under the joint-venture agreement, the two air carriers will build a network serving more than 290 destinations in the Americas and more than 80 in Asia, according to a release from Delta.

Korean Air and Delta are also expected to share costs and revenues from flights and increase belly cargo cooperation across the trans-Pacific, according to the company.

The joint-venture agreement will also allow the two air carriers to rearrange and share services at Incheon International Airport‘s new passenger Terminal 2, which will house Korean Air, Delta and other SkyTeam airlines, the Korean Air added.

By Shim Woo-hyun/The Korea Herald (ws@heraldcorp.com)