Saturday, November 30, 2024 Korean Air ’s merger with Asiana Airlines secures European approval, with the US DOJ review remaining as the final step for completion by the end of the year. Korean Air officially announced that its merger with Asiana Airlines has received the final green light from the European Commission (EC), marking a significant milestone in the airline’s ambitious consolidation strategy. However, despite this crucial approval, the U.
S. Department of Justice (DOJ) remains the last regulatory hurdle standing in the way of completing the merger. The carrier aims to overcome this challenge and finalize the deal by the end of the year.
The European Commission’s decision to approve the merger between Korea’s two largest airlines is a pivotal moment in the ongoing saga. According to Korean Air, it has fulfilled all the conditions set out by the EC to gain its approval, allowing the airline to proceed with the merger process. The Commission’s approval effectively removed its earlier concerns about potential anti-competitive effects, a move that significantly clears the path for the merger to progress in the European market.
The EC had initially approved the merger in February, but it stipulated that several conditions had to be met before the deal could move forward. These included the divestiture of certain routes and the launch of new services to mitigate any negative impact on competition. Korean Air has since complied with these stipulations, addressin.
