Global Competition Review: CMA Approves Korean Air/Asiana Airlines with Slot Divestments
March 1, 2023
The Competition and Markets Authority (CMA), Britain’s antitrust authority, has approved Korean Air’s proposed purchase of a majority stake in Asiana Airlines. Korean Air agreed to divest slots and enter into a cooperative partnership agreement with Virgin Atlantic to gain approval. The deal has been cleared by competition authorities in Turkey, Taiwan, Malaysia, Vietnam, Singapore, South Korea, Australia, and China. The deal is awaiting approval from the United States, the European Union, and Japan. Asiana Airlines is represented by Riccardo Celli, Philippe Nogues, and Rebecca Evans of O’Melveny & Myers LLP.
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