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Australia clears Korean Air's proposed Asiana Airlines takeover
September 2nd 2022
Australia's competition regulator will not oppose a Korean Air (KAL) takeover of South Korea's second international carrier, Asiana Airlines. Read More » While KAL and Asiana currently are the only airlines offering nonstop flights between Australia and South Korea, the Australian Competition and Consumer Commission (ACCC) noted Qantas and its LCC subsidiary, Jetstar, soon will begin flying between the two countries. “We consider the Qantas Group’s offering of both full-service and LCC flights on the Sydney to Seoul route means there is likely to be effective competition whether or not the acquisition proceeds,” ACCC chair, Gina Cass-Gottlieb, said. KAL has received approval for the planned tie-up from Malaysia, Singapore, South Korea, Taiwan, Turkey and Vietnam. KAL announced the proposed takeover in 2021. “To finalise the acquisition process, Korean Air will continue to proactively communicate and cooperate with the remaining regulatory bodies where approval is necessary in the United States, the European Union, China, Japan and the United Kingdom,” KAL said. Reporting is arbitrary in the UK, the airline added.
