European Commission approves the acquisition of Asiana by Korean Air, subject to conditions

The European Commission has granted conditional approval for the acquisition of Asiana Airlines Inc. by Korean Air Lines Co., Ltd., following an in-depth investigation. The approval is contingent on Korean Air complying with specific remedies to address competition concerns.

The Commission initially raised concerns about potential harm to competition in air cargo transport services between Europe and South Korea and passenger air transport services on routes between Seoul and certain European destinations.

To address these concerns, Korean Air has committed to divesting Asiana’s global cargo freighter business and making assets available to rival airline T’Way for flight operations on overlapping routes. These commitments aim to maintain effective competition in cargo and passenger transport between South Korea and the European Economic Area.

An independent trustee will monitor the implementation of these commitments. The Commission’s decision is conditional upon full compliance with the proposed remedies.