Britain’s antitrust regulator said Wednesday it has approved the integration of South Korea’s Korean Air Co. with its smaller local rival Asiana Airlines Inc.
Britain’s Competition of Markets Authority (CMA) said in a statement that undertakings given by Korean Air are “appropriate” to remedy or mitigate a lessening of competition in the market.
Korean Air proposed supporting a new Incheon-London route of British airliner Virgin Atlantic Airways Ltd., as the CMA had demanded Korean Air provide seven out of 17 slots required for landing and takeoff at London’s Heathrow Airport to British carrier Virgin Atlantic.
Currently, Korean Air and Asiana have 10 and seven slots, respectively, at the airport for flights on the Incheon-London route.
In 2021, Korean Air submitted documents to antitrust regulators in 14 countries for the review of its combination 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 European Union and the United States.
Source: Yonhap News Agency