EU to decide on Korean Air Lines-Asiana acquisition by February 14, 2024

[Photo by Yonhap]

European Union (EU) antitrust regulators will resume their investigation into the proposed acquisition of Asiana Airlines, Inc. by Korean Air Lines Co. following a halt in June 2023.

According to sources familiar with the matter, the European Commission, the bloc’s competition watchdog, set a new deadline on February 14, 2024, to decide whether to clear the proposed acquisition.

The announcement comes six months after the regulators halted the investigation in June in response to concerns about potential impacts of the acquisition on European routes.

Korean Air Lines offered remedies last month to the European watchdog, including a proposed sale of Asiana’s cargo unit, to ease these concerns. The sources expected the final decision to be made before the deadline.

However, the airline must win approval from the United States and Japan in addition to the EU to complete the deal.