UK approves Korean Air- Asiana merger
Virgin Atlantic is set to launch Seoul flights in a deal which will green-light Korean Air’s Asiana merger in the UK.
Korean Air is offering slots to Virgin Atlantic to operate flights to Korea.
That will offer competition between London and Seoul, which is enough to satisfy the UK’s Competition and Markets Authority.
The CMA had concerns about the Korean Air – Asiana merger as it effectively had a monopoly on the route.
The UK’s competition authority has now cleared the merger.
“We welcome the CMA’s decision regarding Virgin Atlantic’s role as the remedy taker in the Korean Air and Asiana merger,” Virgin said.
“This will facilitate our entry into Seoul.”
The £1.2 billion purchase of Asiana was first proposed in 2020.
The merger has received regulatory approval in nearly a dozen countries but not yet in the EU and the US.
Learn more about : Virgin Atlantic ( United Kingdom )
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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