Japan Airlines Buys Hanjin KAL Shares in Renewed Partnership

According to The Korea Herald, Japan Airlines bought shares in Hanjin KAL, the holding company that controls Korean Air, as the two carriers announced a renewed, broad partnership. JAL disclosed the stake purchase on Wednesday but did not reveal the size of the holding or the price paid. The airline said the investment was an independent decision based on Hanjin KAL's long-term market value. No regulatory filing has surfaced showing a stake of 5 percent or more.