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EU Likely to Approve Koreana-Asiana Merger

Written: 2024-01-13 13:09:44Updated: 2024-01-13 14:01:21

EU Likely to Approve Koreana-Asiana Merger

Photo : YONHAP News

The European Commission is set to give final approval to Korean Air's merger with Asiana, Reuters reported Friday.

Quoting a pair of sources, Reuters said the approval resulted from a remedy offer that included selling Asiana's cargo business and divesting passenger routes to four European cities.

The Commission suspended its vetting of the merger in June, one month after warning that the deal could weaken competition in European passenger and cargo service.

Korean Air submitted a remedy offer early last month.

The European body initially set a February 14 deadline to finish vetting the merger. It will likely need a few more weeks before it officially announces its decision.

Korean Air has won approval for the merger from antitrust regulators in eleven of the 14 countries it has notified, with the EU, the United States, and Japan remaining.

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