Korean Air and Asiana Airlines merger near final approval

The merger between Korean Air and Asiana Airlines, which was initiated in 2020, is on the verge of completion after four years of negotiations. The European Commission (EC), the final major regulatory hurdle, is expected to announce its approval soon. Alongside the creation of a “mega carrier,” the integration of low-cost carriers (LCCs) affiliated with both airlines - Jin Air, Air Busan, and Air Seoul - is expected to reshape South Korea's aviation industry. According to the aviation industry on Wednesday, the EC is likely to finalize its review of the merger and announce its approval later in November 2024. The EC granted conditional approval earlier in February after requiring the sale of Asiana's cargo business and the transfer of certain European passenger routes and is currently conducting a final review of Air Incheon's suitability to acquire Asiana's cargo division. Air Incheon plans to complete the remaining processes for the acquisition and begin operations under the new arrangement from July 1st, 2025, onwards. The sale of Asiana's cargo business, which faced legal challenges, cleared its final hurdle when a Korean court recently dismissed an injunction request by Asiana's pilot union to halt the sale. The EC also confirmed that the requirement to transfer four European passenger routes has been fulfilled. Under its conditions, Korean Air and Asiana were required to transfer routes to Frankfurt, Paris, Rome, and Barcelona to T'way Air. T'way Air completed the transition earlier in November 2024 by launching flights to Frankfurt, having already commenced services to the other destinations.<br/>