European Commission approves Korean Air acquisition of Asiana Airlines

European Commission approved (13-Feb-2024) Korean Air to proceed with plans to acquire a controlling stake in Asiana Airlines and subsequently merge the two airlines, subject to the airline implementing the following measures to address competition concerns:

• Korean Air will divest Asiana Airlines' global freight business, including freight aircraft, slots, traffic rights, flight crew and other employees. The Commission noted: "Korean Air can only implement the acquisition of Asiana following the Commission's approval of a suitable buyer for the cargo divestment";
• Korean Air will assist rival airline T'way Air to commence services connecting Seoul to Barcelona, Paris, Frankfurt and Rome, including providing slots, traffic rights and access to required aircraft. The Commission stated: "Korean Air has committed not to complete the merger until T'way has started operating on the four overlap routes".

As previously reported by CAPA, the airline submitted requests for regulatory approval for the Asiana acquisition from antitrust authorities in 14 countries in Jan-2021. It has received approval from authorities in 13 countries, including Australia, Singapore, the UK, China and Japan, and is still awaiting approval from authorities in the US. [more - original PR] [more - original PR - Korean - II]