Korean Air gets EU approval for Asiana merger

Quick Summary:

The South Korean largest full-service carrier (FSC) has tapped Air Incheon, a local airline dedicated to cargo business, as the preferred bidder to acquire all stake in Asiana Airlines Inc.’s cargo unit for around 500 billion won ($361.8 million).

In May last year, EC suggested two key requirements: reducing competition in the provision of passenger transport services on four routes between South Korea and France, Germany, Italy, and Spain and selling Asiana's provision of cargo transport business.

The European Commission (EC), the European Union (EU) antitrust body, approved the merger between Korean Air Lines Co.and Asiana Airlines Inc.on November 28.

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Article Details

Category: Economy

Markets: South KoreaFranceGermanyItalyJapanSpain

Topics: Cargo Airline Merger Korea Billion Review European Airlines Asiana Korean Transport

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 11:21:11 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 394 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23936338

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