The European Union has officially granted its final approval for the merger between Korean Air and Asiana Airlines, following the fulfillment of conditions set by the European Commission in February. This clearance marks a significant step in the long-anticipated deal between the two major Korean airlines.
To address concerns over competition on European routes, the EU mandated that Korean Air make provisions for competition on four overlapping routes: Seoul to Barcelona, Frankfurt, Paris, and Rome. Korean low-cost carrier T’way Air has been designated as the “remedy carrier” on these routes, ensuring that passengers continue to have access to these key European destinations without facing reduced options.
This approval comes after the UK’s Competition and Markets Authority (CMA) gave its clearance in early 2023, contingent on Korean Air’s agreement to release slots for Virgin Atlantic to operate on the London-Seoul route. The last regulatory hurdle remains with the US Department of Justice (DOJ), which is expected to review the deal.
Korean Air, which first announced the merger with Asiana in November 2020, has submitted the EU’s approval to the DOJ and aims to finalize the merger by the end of this month.
With the merger now largely approved in major markets, the combined carrier is expected to strengthen its position as one of Asia’s largest airline groups, potentially creating a dominant player in both the Korean and global airline sectors.
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