Korean Air meets EU conditions for its Asiana Airlines merger, designating T’way Air as remedy carrier and divesting Asiana’s freighter business.
SEOUL, SOUTH KOREA – Korean Air has satisfied all conditions set by the European Union competition authority for its merger with Asiana Airlines.
The European Commission (EC) announced on November 28 that it had concluded its review after confirming Korean Air’s fulfillment 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.
The airline has 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.
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.
George is the News Feed Manager, Content Creator, and Social Media Manager at the TravelDailyNews network of online newspapers. At the same time, he is completing his studies in the Department of Business Administration at the Athens University of Economics and Business.