The European Union competition authority has approved the merger of Korean Air and Asiana Airlines.
The European Commission (EC) announced on last week that it has concluded its review after confirming Korean Air’s fulfilling of all required conditions for the merger with Asiana Airlines.
In February 2024, the EC granted conditional approval subject to two key requirements: ensuring stable operations of a remedy carrier on four overlapping European routes (Barcelona, Frankfurt, Paris and Rome) and the divestiture of Asiana’s freighter business.
Korean Air designated T’way Air as the remedy carrier for the European routes, with commitments to provide operational support, including aircraft, flight crew, and maintenance services. Air Incheon has been approved as the purchaser of Asiana Airlines’ freighter business. The merger will also mean that the combined airline will be part of SkyTeam Alliance, and Asiana will leave Star Alliance.
Korean Air has submitted the European Commission’s final approval to the U.S. Department of Justice and plans to complete the transaction by December 2024.
About Korean Air
Serving the world for more than 55 years, Korean Air is one of the world’s top 20 airlines, carrying more than 27 million passengers in 2019, pre-COVID. With its global hub at Incheon International Airport (ICN), the airline serves 114 cities in 40 countries on five continents with a modern fleet of 158 aircraft and over 20,000 professional employees.
Korean Air’s outstanding performance and commitment to the highest level of safety and customer service has widely been recognized. The airline has been granted numerous awards including a 7-star airline rating from AirlineRatings.com as well as Air Transport World’s Airline of the Year and Cargo Operator of the Year awards.
Korean Air is a founding member of the SkyTeam airline alliance, and has grown into one of the largest transpacific airlines through its joint venture with Delta Air Lines.
Source: Korean Air Press Department
