News
U.K. approves Korean Air takeover of Asiana Airlines
March 2nd 2023
The U.K. Competition and Markets Authority (CMA) has cleared Korean Air's (KAL) proposed buyout of rival Asiana Airlines after accepting KAL’s commitment to facilitate entry of Virgin Atlantic on London Heathrow-Seoul Incheon. Read More » The CMA considered KAL’s undertakings were “appropriate to remedy, mitigate or prevent the substantial lessening of competition” for scheduled air passenger and air cargo services. KAL agreed to a cooperative partnership with Virgin Atlantic on the route as part of the remediation. The proposed takeover still requires the green light from three competition regulators, the European Union, Japan and the U.S.
