After the European Commission (EC) approved the merger on Feb. 13, Korean Air has clearances in 13 of the 14 jurisdictions it applied to. The remaining one is the U.S. Some of the national authorities have exacted a high price to assuage their concerns regarding effects on competition. ...
An ongoing review of Korean Air's proposed merger with Asiana Airlines by competition authorities in South Korea and eight other key jurisdictions has forced Korean Air's parent Hanjin Group to defer the planned closing date from October 30 to December 31, 2021. "We expect the approval ...
The CMA also found that the merger raises competition concerns in the supply of air cargo services. The CMA found that Korean Air and Asiana Airlines are the two main suppliers of direct cargo services between the UK and So...
Korean Air(KE,Seoul Incheon) andAsiana Airlines(OZ,Seoul Incheon) aim to fully unite later than previously planned, in 2024, according to a draft of the Post-Merger Integration plan, seen by local media, submitted to the state-runKorea Development Bankwhich is overseeing the deal. Under the...
After conducting due diligence, Korean Air handed the Post-Merger Integration plan to the policy development bank on March 17. As previously reported, its parent Hanjin KAL Corporationagreed to buy Asianain November for KRW1.8 trillion won (USD1.59 billion) through the acquisition of new shares an...
Korean Airrevealed back in November 2020that it would acquire its longtime rival to create the world’s tenth-biggest airline by fleet, anddocuments were reportedly submittedin January to competition agencies in 14 countries seeking their approval of the merger. ...
Meanwhile, the consequences of the planned merger are becoming apparent for the full-service carriers’ LCCs, Korean Air’sJin Air(LJ,Jeju) and Asiana’s low-cost units,Air Busan(BX,Busan) andAir Seoul(RS,Seoul Incheon), explicitly concerning their integration and where such a combined low-...
Asiana Airlines is set to divest its cargo unit, ending an impasse on acquisition plans from compatriot Korean Air, and paving the way for possible European regulatory approval for the impending merger. At a meeting on 2 November, Asiana’s board approved Korean Air’s “correc...
The Daily Memo While Korean Air is moving closer to gaining all the approvals it needs for its takeover of rival Asiana Airlines, the process is also spawning significant opportunities for other carriers thanks to competition remedies required by overseas regulators. After the European Commission (...
Asiana and Korean Air are holding board meetings today to consider the sale of Asiana’s cargo arm, before a merger of the pair. The European Commission requested remedies to address anti-competitive concerns, which could be fulfilled by the sale of the cargo operations. Korean Air (KAL) must...