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| ▲ This undated file photo shows Korean Air Co. and Asiana Airlines Inc.'s planes at Gimpo International Airport in western Seoul. (Yonhap) |
Korean Air's merger-deadline extension
Korean Air asks EU to extend deadline for merger with Asiana
SEOUL, June 29 (Yonhap) -- Korean Air Co. said Thursday it has requested that EU antitrust regulators extend the deadline to make a decision on whether to approve its proposed acquisition of its smaller domestic rival Asiana Airlines Inc.
Korean Air asked for more time to prepare "remedies" that can address the European Commission's (EC) competition concerns, and the EC accepted the request, the company said in a statement.
"We will soon submit a remedy package and finalize the discussion with the EC within the new deadline," the statement said.
The EU's executive body said on its website that it temporarily halted its review of the Korean Air-Asiana merger on June 23 (local time).
The Korean national flag carrier expects the EU competition watchdog to make a final decision on its planned merger with Asiana in October from the originally scheduled Aug. 3.
In 2021, Korean Air submitted documents to antitrust regulators in 14 countries for review of its integration with Asiana.
The company has received approval from 11 countries, including Britain, Australia, Singapore, Vietnam, Turkey and China, and is awaiting a decision from Japan, the EU and the United States.
Last month, the European Commission informed Korean Air of its preliminary review, in which it stated that its proposed acquisition of Asiana may restrict competition in the markets for passenger and cargo air transport services between the EU and South Korea.
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