Korean Air has successfully met all the conditions set by the European Union (EU) antitrust authorities for the conditional approval of its merger with Asiana Airlines. This marks the conclusion of the merger process, which began in 2020, after four years of efforts.

On November 28, Korean Air announced that the EU’s competition authority (EC) declared that all preconditions for the merger had been “fulfilled” and closed its review. Following this, Korean Air reported the EC’s final approval to the U.S. Department of Justice (DOJ). If the DOJ does not file an antitrust lawsuit, the merger will be considered approved. Industry insiders believe the likelihood of a DOJ lawsuit is low following the EC’s approval, effectively signaling the completion of the merger process.

Once the review process is finalized, the merged entity will become a top-10 global mega carrier. With a combined fleet of 238 aircraft, the newly formed airline is expected to play a pivotal role in enhancing Incheon Airport’s status as a global aviation and logistics hub. Additionally, the integration of the two airlines’ low-cost carriers (LCCs) — Jin Air, Air Busan, and Air Seoul — is expected to reshape the domestic aviation industry. The merger will position the combined carrier as the world’s 11th largest airline by passenger capacity. As of last month, the two companies’ combined fleet included 135 aircraft from Korean Air and 68 from Asiana, totaling 203 passenger planes, alongside 35 cargo planes (23 from Korean Air and 12 from Asiana). The merger will also expand their global reach, with Korean Air currently serving 114 cities in 40 countries, while Asiana operates flights to 72 cities.

By December 20, Korean Air plans to complete the remaining payment of KRW 800 billion (out of a total acquisition cost of KRW 1.5 trillion, excluding perpetual bonds of KRW 300 billion) through participation in Asiana’s rights offering. After the capital increase, Korean Air will hold a 63.88% stake in Asiana.

Following the resolution of merger-related issues, Korean Air intends to implement its post-merger integration (PMI) strategy in collaboration with the Korea Development Bank.