Japan's antitrust regulator on Wednesday approved the merger deal between Korean Air and Asiana Airlines, bringing the merger process one step closer.

According to Korean Air, the Japan Fair Trade Commission approved the deal worth one-point-eight trillion won, or one-point-34 billion U.S. dollars, to become the latest competition regulator in a key market to grant the necessary approval.

With the greenlight given by 12 regulating agencies, the airlines now await assent from the U.S. and the European Union.

In November 2020, Korean Air signed a deal to acquire a controlling stake in Asiana Airlines to create the world's tenth-largest airline by fleet.