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[Alpha Biz=(Chicago) Reporter Kim Jisun] The merger of Korean Air and Asiana Airlines was approved by Japanese rival authorities.
Korean Air announced on the 1st that Japan's Fair Employment Commission (JFTC) has approved a business combination related to the acquisition of Asiana Airlines.
As a result, Korean Air has completed the approval of 12 countries, excluding the United States and the European Union (EU), out of 14 countries that need to be approved for the business combination.
Korean Air submitted explanatory materials to Japanese rival authorities in January 2021, conducted economic analysis and market research, and submitted a draft declaration in August of the same year. Over the next two years, a wide range of corrective measures have been discussed in advance.
Japanese rival authorities called for corrective action against routes that are feared to limit competition due to an increase in market share of Korea-Japan routes if a business combination takes place. In response, Korean Air decided to partially transfer slots to four routes in Seoul and three routes in Busan if requested.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
