1-Feb-2024 1:26 PM

Japan Fair Trade Commission approves Korean Air acquisition of Asiana Airlines

Japan Fair Trade Commission (JFTC) approved (31-Jan-2024) Korean Air to proceed with plans to acquire a controlling stake in Asiana Airlines and subsequently merge the two airlines. The JFTC "requested for Korean Air to submit remedies on select routes between Korea and Japan where the combined market share of Korean Air, Asiana Airlines and its respective subsidiaries (Jin Air, Air Busan and Air Seoul) would limit competition", and "concluded that five of the 12 overlapping routes on the network were not subject to competition review". The airline "decided to cede a limited number of slots on seven routes, should 'remedy takers' decide to operate on them", with the routes comprising Seoul to Osaka, Sapporo Chitose, Nagoya Chubu and Fukuoka, as well as Busan to Osaka, Sapporo Chitose and Fukuoka. 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 12 countries, including Australia, Singapore, the UK and China, and is still awaiting approval from authorities in the US and the EU. [more - original PR] [more - original PR - II - Korean]

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