Questions regarding the acquisition of Asiana Airlines by Korean Air persist for some markets, with a recent report suggesting that the EU could probe the proposed deal further. Several countries have given their approval to the merger, but some key markets, such as the EU, US, UK, and Japan, are still reviewing the deal.

Full-scale investigation

According to a report by Reuters, the European Union will start a four-month-long investigation into the proposed merger of Korean Air with Asiana Airlines. The EU antitrust regulators had earlier said that they would decide by February 17th their stance on the deal.

The latest Reuters report says that a full-scale investigation will be launched and will focus primarily on four key routes to Barcelona, Frankfurt, Rome, and Paris for both passenger and cargo flights. According to sources cited in the report, Korean Air could have to give airport slots to other carriers in competition.

Photo: Markus Mainka | Shutterstock

Korean Air finalized the merger with Asiana around two years ago, but obtaining all the necessary approvals from foreign regulators has taken more time than estimated. Several approvals to this merger, including the one given by South Korea's antitrust agency – have been granted on condition that Korean Air would transfer slots to other airlines, should the need arise.

The UK needs more time, too

The United Kingdom is also taking time to review the merger details and the consequences it could have on UK-South Korea air connectivity.

In January, the UK's Competition and Markets Authority (CMA) asked for two months more as it could not decide in the time previously estimated. It has now extended the time to March 23rd.

Photo: Soos Jozsef / Shutterstock

Currently, Korean Air and Asiana Airlines are the only carriers operating flights between London Heathrow and Seoul. A merged entity connecting the two countries without any other carrier is not viewed as an ideal situation.

However, the regulator has said that "there is a sufficient likelihood that it will be able to accept the undertakings before the end of the extended period."

Which countries have approved?

In December 2022, China became the latest country to give its nod to the merger. The Ministry of Commerce of the People's Republic of China raised questions about the competition on nine air routes between the two countries, including Incheon to Tianjin, Beijing, Shanghai, and Changsha.

Photo: Markus Mainka | Shutterstock

But Korean Air's reply to these questions satisfied China, with one of the measures including slot transfer in case other carriers want to deploy aircraft on these routes.

The merger has also been given the go-ahead from Australia, South Korea, Singapore, Vietnam, Thailand, Turkey, Taiwan, Malaysia, China, and the Philippines.

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Source: Reuters