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[Alpha Biz=(Chicago) Reporter Paul Lee] The merger decision between Korean Air and Asiana Airlines has been delayed. The move comes as the European Commission, which is reviewing the combination of the two companies, postponed its decision on whether to approve the plan.
According to the aviation industry on the 29th, the EU Commission has decided to delay its announcement of whether to approve the merger scheduled for Aug. 3, following Korean Air's request for an extension of the deadline. This is the second time the executive committee has extended the screening. After conducting the first stage (preliminary) review, it entered the second stage of the review in February for further review. As a result, the results of the screening were scheduled to come out on July 5, but the deadline for the screening was extended again to August 3. The industry expects that it will take another two months for the results to be released due to the extension of the screening.
Korean Air has reported a business combination to a total of 14 countries including Korea. Currently, only three countries, including the United States and Japan, along with the EU, remain approved.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
