EU to start 4-month investigation of Korean Air-Asiana merger

A Korean Air Lines' flight takes off from Incheon International Airport [YONHAP]

The European Union's (EU) antitrust regulator opened an additional four-month investigation into the Korean Air Lines acquisition of Asiana Airlines, citing concerns over possibly reduced competition.

The European Commission said on Friday that it has opened an in-depth investigation of the deal. The result will be announced by July.

It conducted the first-stage review of the deal based on documents submitted by Korean Air last month.

The commission said the deal could reduce competition in the passenger and air cargo transport services on four routes between Korea and the European Economic Area as a reason for opening the in-depth investigation. It specifically mentioned the fact that one airline is the largest in Korea and the other is the second largest.

Korean Air Lines is currently waiting for approval from five jurisdictions, including the European Union, the United States, the United Kingdom and Japan.

In 2020, Korean Air Lines signed a deal to acquire 63.88 percent of Asiana Airlines and merge with it, hoping to complete the acquisition next year and introduce the merged carrier in 2024.

BY SHIN HA-NEE, YONHAP [shin.hanee@joongang.co.kr]