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Business deals

Korean Air takeover of Asiana in limbo as global trustbusters balk

South Korean airlines will likely have to amend their plan to gain European OK

The acquisition of Asiana Airlines by Korean Air Lines was announced in November 2020, after COVID-19 had robbed carriers of passengers around the world. (Photo by Ahn Seong-bok)

SEOUL -- Korean Air Lines' acquisition of smaller rival Asiana Airlines is progressing slower than planned in the two years since the deal was announced due to regulatory red lights in Europe, the U.S., Japan and China.

At the time of the announcement, Korean Air said the acquisition would be completed by the end of 2021, but it is now all but certain that the process of clearing antitrust screenings will go into and possibly beyond 2023.

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