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EU antitrust regulators temporarily halt probe of Korean Air-Asiana deal

June 28, 2023 - 21:37 By Reuters
Korean Air (Korean Air)

BRUSSELS (Reuters) -- EU antitrust regulators have temporarily suspended their investigation into Korean Air Lines' proposed acquisition of Asiana after the former asked for more time to prepare remedies to address competition concerns, the South Korean carrier said on Wednesday.

The temporary halt took effect on June 23, the European Commission's site shows.

"Korean Air has requested a deadline extension to render comprehensive remedies that can address the EC’s concerns, and the EC approved the request," the airline said in a statement.

"Korean Air will soon submit a remedy package and finalise the discussion with the EC within the new deadline."

The EU competition watchdog last month warned the deal, which would see Korean Air become the biggest shareholder in indebted Asiana, may restrict competition in passenger and cargo air transport services between Europe and South Korea.