The EC has concerns about the proposed merger’s effect on competition on certain routes between South Korea and Europe that are served by both carriers.
The European Commission has launched an in-depth investigation into the proposed Korean Air-Asiana merger, which the regulator says could be anti-competitive.
Asiana Airlines managed to achieve a net profit in the fourth quarter largely thanks to its cargo operation which narrowed its full-year loss amid the pandemic.
A potential hurdle for the proposed Korean Air-Asiana Airlines merger has been removed after the dismissal of a legal challenge that was filed against the deal.
The COVID-19 crisis is set to spark major consolidation in the South Korean airline industry, with Korean Air planning to purchase struggling rival Asiana Airlines.
A deal for the takeover of South Korean carrier Asiana Airlines by a Hyundai Development Co. (HDC)-led consortium has collapsed, with both sides confirming that the sale agreement had been canceled.
Asiana Airlines has rejected claims that it has not provided sufficient information to prospective buyer Hyundai Development Co. (HDC) as a dispute between the two parties signals major complications in closing the takeover.
South Korean carrier Asiana is planning to reopen several international routes in June, one of a handful of airlines beginning to restore networks cut back due to COVID-19.
