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Vietnam approves Korean Air’s merger with Asiana Airlines
November 16th 2021
Korean Air’s (KAL) ambitious merger with former rival, Asiana Airlines, has overcome another regulatory hurdle after it received approval of the acquisition from Vietnam’s Ministry of Industry and Trade. Read More » The Korean carrier said today the Vietnamese ministry had stated the business combination was acceptable under the country’s competition legislation. The green light from Vietnam means KAL has received clearance from competition authorities in Turkey, Taiwan, Vietnam and Malaysia since January. The airline group also has been told by the Philippine Competition Commission it does not need to submit a business report. KAL is now awaiting approvals of the merger from regulatory bodies that include competition commissions in Korea, the U.S., the EU, China and Japan. “The airline is actively cooperating with the respective commissions to finalize the acquisition process as early as possible,’’ it said. Last year, KAL announced it would spend 1.8 trillion won acquiring its rival to become the world’s 15th biggest airline by distance flown.
