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Korean Air sees UK regulator accept concessions to resolve Asian merger concerns

( March 1, 2023, 12:41 GMT | Official Statement) -- MLex Summary: The UK's Competition and Markets Authority has said it accepts commitments offered by Korean Air Lines to win approval for its acquisition of rival Asiana. The commitments include a framework agreement with Virgin Atlantic to facilitate its entry into the London-Seoul route, including conceding slots at the Heathrow and Incheon airports. In the meantime, Virgin Atlantic will benefit from a unilateral codeshare agreement for passenger and cargo services with Korean Air. Should Virgin Atlantic not pursue the offer for a minimum period of three years, there is also an “open slot commitment,” to help one or more alternative carriers enter the routes.Statement follows. The undertakings and decision are attached....

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