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Korean Air-Asiana Airlines merger cleared by Thailand and the Philippines
June 1st 2021
Korean Air (KAL) announced yesterday its planned merger with South Korean rival, Asiana Airlines, had received the green light from the Philippines and Thailand. Read More » Thailand’s Office of Trade Competition Commission (OTCC) had completed its review of the proposed union and concluded a "submission of a prerequisite business combination report was not necessary", KAL said. The tie-up also has been approved by the competition commission in the Philippines. KAL said the amalgamation still required clearance from China, the European Union, Japan, South Korea and the U.S. "The airline is actively cooperating with the respective commissions and providing additional documents upon request to finalize the acquisition process as early as possible," KAL said. The company hoped to complete the union of South Korea's two largest airline groups by 2024.
