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The price is the freight business
Photo: Asiana Airlines
The European Commission (EC) approved Korean Air’s business combination with Asiana Airlines on 13 February 2024. The approval comes in the form of conditional clearance, which is subject to the carrier’s compliance with certain commitments agreed upon with the EC.
To address the identified competition concerns, commitments have been offered, primarily to provide support to ensure a new airline’s entry on the four overlapping PAX routes between Korea and the EU and to divest Asiana Airlines' cargo freighter business.
Korean Air and Asiana Airlines will need to appoint an advisory firm to oversee the divestment of Asiana Airlines’ cargo freighter business, in addition to initiating the bidding process and selecting a buyer of the cargo business. The EC’s approval of the selected buyer is required to close the airlines’ merger deal. (ah)