Korean Air receives final approval from EU competition authorities... ”Conditions precedent met for passenger and cargo divisions”

Korean Air, South Korea's largest airline, has cleared all the conditions precedent for conditional approval set by the European Union's competition authority (EC) for its business combination with Asiana Airlines, and has received final approval.
On the 28th (local time), the EC announced that it had completed its review, stating that all prerequisites for the merger of Korean Air and Asiana Airlines had been "fulfilled."
The EC made a conditional decision to approve the plan in February this year, setting two conditions as a prerequisite: first, the four overlapping routes in Europe (Paris, Frankfurt,
Secondly, the stable operation of a new entrant airline (Remedy Taker) to Seoul (Barcelona, Rome, etc.). Secondly, the completion of the approval process for the buyer of Asiana Airlines' cargo business.
To meet these requirements, Korean Air selected T'way Air as a new entrant in the passenger sector and is providing services and connecting flights to four European routes.
In order to support the continuation of operations, the government provided various forms of support, including aircraft, flight crew, and maintenance. In addition, Air Incheon was selected as the buyer of Asiana Airlines' cargo business.
Korean Air also worked hard to obtain approval from the EU competition authorities, including the Department of Justice, which has a pending decision on approval of the merger.
The details of the final approval were reported. Going forward, the plan is to conclude the final transaction procedures by the end of December of this year.