Korean Air Gets EU Antitrust Warning Over $1.4 Billion Asiana Deal
- EU issues so-called statement of objections over air deal
- Cites concerns over cargo and some passenger markets
Korean Air Lines Co. aircraft Incheon International Airport in Incheon, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Korean Air Lines Co. was handed a warning from European Union regulators that its plan to acquire smaller South Korean rival Asiana Airlines Inc. for 1.8 trillion won ($1.4 billion) would harm competition unless the firms allay antitrust concerns.
In a so-called statement of objections announced on Wednesday, the European Commission cited likely problems on routes between South Korea and France, Germany, Italy and Spain. The commission also said the buyout could distort the market for cargo transport services between South Korea and Europe.