2024-01-12 14:26:00
Archyde.com reported on the 12th that the European Union (EU) is planning to approve the merger of Korean Air and Asiana Airlines. In November of last year, Korean Air and Asiana Airlines decided to sell Asiana’s cargo division and return some European routes, and the EU antitrust authorities decided to approve the merger. In this case, only the US and Japanese governments are left to review the merger among the major countries.
The EU has been demanding the sale of Asiana Airlines’ cargo division, delaying approval on the grounds that there is a high risk that competition in the cargo transportation sector and some routes will be limited if the two companies merge. Accordingly, Korean Air and Asiana Airlines decided to sell Asiana’s cargo division in November last year and submitted this information to EU authorities. A Korean Air official said, “We have not yet received official notification of merger approval from the EU, but since most of the conditions requested by the EU have been met, we believe the merger approval will be final.”
After the EU, approval from the US and Japanese authorities remains. It is reported that Japan will make a final decision on its position on the merger as early as this month, and the United States will make a final decision on its position on the merger in the first half of the year. Once final approval is received from the EU, US and Japanese authorities, the merger process that has been taking place for over three years will be completed with Korean Air acquiring a stake in Asiana Airlines in the second half of this year. If this happens, the world’s top 10 ‘mega carrier’ (super-large airline) will be launched, with sales of 20 trillion won and a fleet of 230 aircraft.
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