UK Effectively Approves Merger of Korean Air and Asiana Airlines
UK Competition Authority Accepts 'Monopoly Resolution' Corrective Measures
Final Approval Pending Industry Feedback
[Asia Economy Reporter Han Yeju] The UK competition authority has effectively approved the merger between Korean Air and Asiana Airlines.
The UK Competition and Markets Authority (CMA) announced on the 28th that "there is reasonable ground to accept the voluntary remedies submitted by Korean Air."
The CMA will make a final decision on approval after hearing opinions from the relevant industry. It is expected that approval will be granted unless there is a major change.
On the 14th, the CMA decided to suspend the merger, stating that since both companies are major airlines on the London-Incheon route, the merger could pose a risk of UK customers paying higher costs or receiving lower quality services.
At that time, the CMA notified Korean Air to submit additional convincing materials regarding the merger by the 21st and planned to decide on the 28th whether to approve the merger or initiate a second investigation.
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The merger between Korean Air and Asiana Airlines must be approved by all competition authorities to be finalized. So far, approval has been obtained from 9 out of 14 countries, with the remaining five being the UK, the United States, the European Union (EU), Japan, and China.
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