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Korean Air and Asiana Airlines planes are grounded at an airport. (Yonhap) |
Korean Air’s plan to take over Asiana Airline has been approved by antitrust authorities in Turkey, the airline said Wednesday.
The Turkish Competition Authority, a government organization dedicated to ensuring market competitiveness, gave the Korean airline the green light last Thursday, becoming the first foreign country to clear one of the hurdles facing the high-profile acquisition.
Last month, the South Korean national flag carrier filed for a merger and acquisition review to the antitrust bodies of nine countries -- including the Fair Trade Commission here -- as part of many steps to finalize the deal that will give birth one of the largest airlines in the world.
The FTC is set to announce its decision as early as in July, after completing its ongoing market analysis on the merger.
The airline added it is also preparing to submit documents to a further five countries including the UK and Australia.
By Yim Hyun-su (
hyunsu@heraldcorp.com)
