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EU Watchdog To Decide Korean Air, Asiana Deal In February

 |  January 16, 2023

EU antitrust regulators will decide by Feb. 17 whether to clear flag carrier Korean Air Lines’ 003490.KS planned takeover of rival Asiana Airlines 020560.KS, a European Commission filing showed on Monday.

The deal announced in late 2020 would see Korean Air become the top shareholder of indebted Asiana in one of the first major aviation consolidations since the industry was hit by COVID-19.

Related: UK Watchdog Looks At Concessions In Korean Air, Asiana Airlines Buy

The EU competition enforcer can clear the deal with or without remedies, or it can open a full-scale investigation after the preliminary review if it has serious concerns.

South Korea’s antitrust enforcer gave the green light last year on condition that Korean Air cedes slots and traffic rights for 26 international and 14 domestic routes in the next 10 years if a newly competing airline requests them.