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Korean Air-Asiana Airlines merger approved with conditions in South Korea

( February 22, 2022, 03:00 GMT | Official Statement) -- MLex Summary: Korean Air’s proposed takeover of its smaller rival Asiana Airlines was cleared with conditions in South Korea. In a statement released today, the Korea Fair Trade Commission said it has approved the deal with both structural and behavioral remedies, given that the merger will likely constrain competition between passenger flights on 26 international routes and 14 domestic routes. The remedies include transferring the merged airline’s airport slots or traffic rights to low-cost carriers or other new entrants over a 10-year period, with price increases limited to inflation and current passenger seat and service quality levels maintained. The regulator said the measures announced today are not definitive and will be finalized once reviews in other jurisdictions are completed.The regulator's statement, in Korean, is attached....

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