Asiana Airlines Agrees to Sell Cargo Unit in Bid to Secure Korean Air Merger Approval

Sale of Asiana's air cargo business, which operates 11 planes and holds a 20.7% share of South Korea's overseas market, is an attempt to meet EU antitrust requirements for Korean Air's acquisition; final approvals still pending from the EU, US, and Japan.

• Asiana Airlines' board has agreed to sell its cargo service to facilitate the proposed merger with Korean Air Lines, a move aimed at securing EU antitrust approval for the acquisition.
• The sale would include the divestment of routes to some European Union cities as part of Korean Air's bid to gain regulatory approval.
• Despite this decision, Korean Air's acquisition of Asiana still requires authorisation from the EU, United States, and Japan.
• Asiana's cargo service, which operates 11 planes and holds a 20.7% share of South Korea's overseas cargo market, serves 21 routes in 12 countries including the United States, Germany and Russia.
• The proposed sale of Asiana, which has been struggling with debt, comes after several years of creditors' search for a new owner.

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