Korean Air "Deadline for Acquiring Asiana Shares Extended Once More to End of March Next Month"

[Asia Economy Reporter Choi Dae-yeol] Korean Air announced on the 29th that it has decided to postpone the date of acquiring a 64% stake in Asiana Airlines from the end of this month to March 31 of next year. This measure comes as a result of delays in regulatory merger reviews.

Korean Air plans to participate in Asiana Airlines' paid-in capital increase and acquire shares after passing merger reviews in major countries. Initially, the deadline was set for the end of June this year, then postponed to the end of September, and later delayed again to the end of this month. If the Korea Fair Trade Commission and competition authorities in other countries with vested interests do not approve, the acquisition of shares may be further delayed.

On the same day, the Fair Trade Commission submitted a review report approving the merger on the condition that Korean Air and Asiana Airlines implement measures such as the redistribution of transport rights and slot returns to the plenary session. Korean Air is undergoing merger reviews not only by the Fair Trade Commission but also by seven countries including the United States, the EU (European Union), China, Japan, the United Kingdom, Singapore, and Australia. The acquisition of shares will only be possible after all reviews are completed.

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