European Commission grants final approval for Korean Air acquisition of Asiana Airlines

Korean Air announced (28-Nov-2024) the European Commission granted final approval to Korean Air to proceed with plans to acquire a controlling stake in Asiana Airlines and subsequently merge the two airlines, after the airline implemented 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;
• 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.

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 - Korean]