The Japan Fair Trade Commission has approved Korean Air’s merger with Asiana Airlines, Korean Air announced Wednesday. To date, the carrier has received 12 of the 14 approvals needed from competition authorities. The remaining two are the European Union and the United States.
Korean Air announced its deal to acquire Asiana, its main competitor—each carrier is based in Seoul—in November 2020. The carriers received approval in July 2021 from the Korean Development Bank to move forward with the merger. At that time, Korean Air anticipated that the integration of the carriers would be complete in 2024.
The JFTC initially requested Korean Air to “submit remedies” concerning 12 routes between South Korea and Japan where the combined market share of the carriers would limit competition. Five eventually were deemed not subject to competition review. The carrier has agreed to cede slots on the remaining seven routes—between Seoul and each Osaka, Sapporo, Nagoya and Fukuoka, as well as between Busan and each Osaka, Sapporo and Fukuoka—should “remedy takers” decide to operate them, according to Korean Air.
