02 June, 2021

Korean Air’s acquisition of Asiana Airlines making progress

Korean Air continues to make progress obtaining necessary business combination approvals to acquire Asiana Airlines.

Korean Air has announced that Thailand’s Office of Trade Competition Commission (OTCC) recently completed its review of the business combination with Asiana, and stated that the submission of a prerequisite business combination report was not necessary.

In February, the airline received approval from the Turkish Competition Authority for its business combination with Asiana. The competition commission of the Philippines, where reporting is arbitrary, also approved of the business combination in May.

The remaining regulatory bodies from which Korean Air requires a business combination approval include the competition comissions of Korea, the United States, the European Union, China and Japan. The airline is actively cooperating with the respective commissions and providing additional documents upon request in order to finalize the acquisition process as early as possible.

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