Korean Air receives EU clearance for takeover
The European Commission (EC) has concluded its review after confirming that Korean Air has fulfilled all the conditions required for the merger with Asiana Airlines.
In February 2024, the EC granted conditional approval subject to two key requirements: ensuring stable operations of a remedy carrier on four overlapping European routes (Barcelona, Frankfurt, Paris and Rome) and the divestiture of Asiana's freighter business.
While Korean Air has designated T'way Air as the remedy carrier for the European routes, with commitments to provide operational support including aircraft, flight crew, and maintenance services, Air Incheon has been approved as the purchaser of Asiana Airlines' freighter business.
Korean Air has submitted the EC's final approval to the US department of justice and plans to complete the transaction by this month. (ah)