Asiana Airlines has finally taken a big step to a long-delayed airline merger with Korean Air
Asiana board of directors agreed to sell its cargo business.
This will pave the way to getting antitrust approval from foreign regulators such as the EU.
Korean Air has now delivered a new plan to the EU for review.
The European regulator is expected to make a decision on it by January 2024.
The airline merger still requires approvals from the US and Japan.
Korean Air first made the move to acquire Asiana three years ago as it was struggling to stay afloat during the pandemic.
Getting approvals from regulators overseas has been a long, drawn out process.
Korean Air believes this move will finally open the doors to a takeover.
“We will keep negotiating with authorities from the US and Japan, and hope to finalise the screening procedure by early 2024,” a Korean Air spokesperson said.
Korean Air has also offered to divest flying rights to four European cities – Frankfurt, Paris, Rome and Barcelona.
