Singapore Approves Korean Air’s Acquisition of Asiana Airways

Singapore Approves Korean Air’s Acquisition of Asiana Airways

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(09 Feb 2022)
Korean Air obtained unconditional approval from
the Opponents and Shopper Charge of Singapore (CCCS) for
its enterprise combination with Asiana Airways on Tuesday, 8
February 2022.

Following its analysis, the CCCS has concluded
that Korean Air’s acquisition of Asiana Airways just isn’t going to infringe
Singapore’s Opponents Act.

Singapore’s rivals authority carried out a
public session in July ultimate yr to hunt options from additional
than 150 stakeholders, along with aviation regulatory our our bodies,
opponents and prospects, on Korean Air’s enterprise combination
report.

The CCCS found that the merged entity is unlikely
to raise ticket prices because of extreme diploma of rivals from
competitor airways paying homage to Singapore Airways throughout the passenger
enterprise.

 

Korean Air Airplane at Gimpo Airport near Seoul. Picture by Steven Howard of TravelNewsAsia.com

 

Throughout the cargo enterprise, the authority moreover concluded that
the merger would not cut back rivals because of vital
stress from present and potential opponents paying homage to Singapore
Airways and suppliers of indirect cargo flights, along with
additional functionality.

Following the analysis, the CCCS authorised the
enterprise combination of the two airways.

Given that airline submitted enterprise combination
evaluations to 9 worldwide places that require reporting in January 2021,
Korean Air has obtained approval from Turkey, Taiwan and Vietnam.
The Thailand Opponents Charge launched that the submission
of a enterprise combination report was not wanted.

From worldwide places the place reporting is unfair,
Korean Air has obtained clearance from Malaysia in addition to
to Singapore. Philippines has confirmed that the enterprise
combination report was not wanted.

With a view to finalize the acquisition course of as
early as potential, Korean Air is at current cooperating with the remaining regulatory our our bodies
the place the report is required, along with the US, the
European Union, China and Japan, along with the UK and
Australia, the place reporting is unfair.


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