[Featured Stock] Asiana Airlines Surges Over 7% on Expectations of 'EU Merger Approval'

As news emerged that the European Union (EU) competition authorities are set to give final approval to the corporate merger with Korean Air, Asiana Airlines' stock price showed strength on the 15th.

At 11:38 a.m. that day, Asiana Airlines was trading at 12,200 won, up 800 won (7.02%) compared to the previous trading day.

An Asiana Airlines aircraft is taking off from Gimpo Airport in Gangseo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

On the 12th (local time), major foreign media reported that the EU competition authorities plan to give final approval to the corporate merger between Korean Air and Asiana Airlines.

The merger push between the two airlines began in earnest with the announcement of integration promotion by the Korea Development Bank in November 2020, but the EU put the brakes on last May by releasing a review report stating that "competition in passenger and cargo transport on European routes could be weakened."

In this regard, Korean Air submitted corrective measures to the EU Commission, including the sale of Asiana's cargo business division and the return of slots (airport takeoff and landing frequencies) on four European city routes. It was reported that the transport rights for the four European routes included in the corrective measures are likely to be transferred to T'way Air.

This content was produced with the assistance of AI translation services.