(Updates with share price moves.)
The Ministry of Commerce of the People’s Republic of China (MOFCOM) announced its approval of Korean Air’s business combination with Asiana Airlines on Dec. 26, Korean Air says in emailed statement.
- MOFCOM has demanded that the merged Korean Air-Asiana entity reduce its market share due to competition concerns
- Korean Air has submitted remedies proposing to transfer slots to any airlines wishing to start air services on nine routes where both Korean Air and Asiana Airlines operate
- Korean Air is still waiting for approvals from the US, EU and Japan, countries where reporting is mandatory, as ...