On Thursday, the board of Asiana Airlines Inc., South Korea’s second-largest air carrier, will reconvene to decide whether to divest its cargo business. This comes after Korean Air Co. applied for antitrust approval from the European Union to acquire the smaller airline.
The board members previously failed to reach a consensus on the matter, but if they vote in favor of the sale, it will give Korean Air a better chance of obtaining the EU’s go-ahead for the takeover.
The European Commission, the EU’s executive body, is concerned that the merger of the two companies may restrict competition in the markets for passenger and cargo air transport services between the EU and South Korea.
If the board votes against the sale, it could potentially hamper the three-year-old merger endeavor.
An Asiana Airlines aircraft takes off at Incheon International Airport, west of Seoul, on Oct. 30, 2023. (Yonhap)
odissy@yna.co.kr
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