The European Commission confirmed on November 28, 2024, that Korean Air has fulfilled all conditions set in February 2024 for its merger with Asiana Airlines. This conditional approval required Korean Air to address competition concerns on overlapping South Korea-Europe routes and to divest Asiana Airlines’ cargo operations.
The Commission reviewed the steps taken by Korean Air for the merger and found that it had implemented the necessary measures. With this, the merger has cleared a major regulatory hurdle in Europe.
Steps to Meet Competition Concerns
To resolve issues surrounding overlapping routes, Korean Air facilitated t’way Air’s entry as a “remedy carrier” on four key routes: Barcelona El Prat, Frankfurt International, Rome Fiumicino, and Paris Charles de Gaulle. Korean Air supported t’way Air with operational assistance, providing aircraft, crew, and maintenance to ensure service continuity and competitive options for passengers.
In addition, Asiana Airlines divested its cargo business to Air Incheon, including transferring its freighter fleet. This move was made to address market concentration concerns related to cargo services.
While European regulatory approval is now secured, the Korean Air merger still awaits a decision from the United States Department of Justice. Korean Air has already submitted the European Commission’s approval to the U.S. authorities and anticipates a final decision by December 2024.
To meet U.S. regulatory requirements, Korean Air has proposed Air Premia as a remedy carrier for overlapping routes to the United States. Air Premia, which already operates flights to the U.S., has received operational support from Korean Air as part of the proposed measures.
A Milestone in a Long Process
Korean Air’s merger with Asiana Airlines, initially proposed four years ago, is progressing toward completion. Once finalized, this Korean Air merger will create a stronger, more globally connected airline.
The European Commission’s approval marks an important step, but the merger’s finalization hinges on the U.S. Department of Justice’s approval. Korean Air remains confident in securing the necessary clearance and continues to work with regulators to bring this merger to fruition.
