Korean Air has received unconditional approval from the Singaporean authorities for its business combination with Asiana Airlines.

After being evaluated, it was concluded that the acquisition Asiana Airlines by Korean Air will not violate the Competition Laws in Singapore.

Singapore’s competition authorities held a public consultation in July last year seeking comments from more than 150 stakeholders, including aviation regulators, competitors and customers, on Korean Air’s business combination report.

CCCS found that the merged entity was unlikely to increase ticket prices due to the high level of competition from competing airlines such as Singapore Airlines in the passenger business.

In the cargo business, the authorities also concluded that the merger would not reduce competition due to significant pressure from existing and potential competitors such as Singapore Airlines and indirect cargo providers, as well as excess capacity.

Since the airline submitted business combination reports to the nine reporting countries in January 2021, Korean Air has received approval from Turkey, Taiwan and Vietnam.

The Business Competition Commission of Thailand announced that there is no need to file a business combination report. From countries whose notification is arbitrary, Korean Air has received authorization from Malaysia other than Singapore. The Philippines has confirmed that a business combination report is not required.

In order to complete the procurement process as soon as possible, Korean Air is currently cooperating with other regulatory agencies that require reports, including the United States, European Union, China, and Japan, as well as the United Kingdom and Australia. , where the information is arbitrary.

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