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Australian Competition Authority, Approving Korean Air and Asiana Business Combination

NSP NEWS AGENCY, By soon ki Lee Journali, 2022-09-02 06:37 END7
#KoreanAir #Asiana #BusinessCombination #CompetitionAuthorit

(서울=NSP통신) soon ki Lee Journali = On Sept. 1, Korean Air received unconditional business combination approval from the Competition Authority of Australia, a voluntary reporting country, in relation to the acquisition of Asiana Airlines.

The Australian Competition & Consumer Commission(ACCC) says that the acquisition and merger between Korean Air and Asiana Airlines is a matter of combination between two airlines operating direct flights on the Sydney route.

However, as both a large airline called Qantas Airways and a low-cost airline called Jetstar plan to operate on the route in the near future, ACCC approved because it judged that effective competition would occur regardless of the business combination between the two companies.


Korean Air has so far obtained business combination approval from competition authorities in Korea, Turkey, Taiwan, and Vietnam since it filed a business combination report to the competition authorities in nine mandatory reporting countries on Jan. 14, last year. In addition, in the case of Thailand, it has been notified that the business combination is not subject to preliminary review.

In addition, in the case of voluntary reporting countries, it received approval decisions from Singapore and Malaysia, including Australia, and in the case of the Philippines, it received an opinion that the procedure would be closed because it was not subject to reporting.

Korean Air plans to complete the procedure as soon as possible by actively cooperating with the competition authorities of United States, the EU, China, and Japan, the remaining mandatory reporting countries, and that of the United Kingdom, voluntary reporting country.

NSP News Agency soon ki Lee Journalist
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