REG - Competition and Mkts - Merger Update: Korean Air / Asiana Airlines Inc

Korean Air Lines CoAnnouncement

08/12/2022 16:45

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RNS Number : 1205J  Competition and Markets Authority  08 December 2022

 

CMA invites comments on merger remedy:

 

The Competition and Markets Authority (CMA) has opened a consultation on
undertakings proposed by Korean Air Co., Ltd. (Korean Air) to address
competition concerns over the anticipated acquisition of Asiana Airlines Inc.
by Korean Air.

 

On 14 November 2022, the CMA announced that it would refer the acquisition for
an in-depth investigation unless Korean Air offered acceptable undertakings to
address the CMA's concerns.

 

To address the CMA's concerns, Korean Air has offered to undertakings to:
enter into a binding framework agreement with Virgin Atlantic Airways Limited
(VAA) to facilitate its entry on the relevant routes of concern; and, in the
event that certain entry conditions are not met by VAA, facilitate entry by
one or more alternative carriers other than VAA.

 

On 28 November 2022, the CMA announced that it would look in detail at these
undertakings. The CMA has until 23 March 2023 to consider whether to accept
the undertakings, or a modified version of them. As part of this process, the
CMA is now consulting publicly on whether the proposals are sufficient to
address the CMA's competition concerns.

 

Before reaching a final decision, the CMA is therefore inviting interested
parties to make their views known. The deadline for responses is 23 December
2023.

 

The consultation on the undertakings and all other information relating to
this merger investigation can be found on the case page at
https://www.gov.uk/cma-cases (https://www.gov.uk/cma-cases) .

 

In the event of media enquiries please contact the CMA's Press Team at
Press@cma.gov.uk (mailto:Press@cma.gov.uk) or call on 020 3738 6460.

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