Asiana Approves Cargo Sale to Pave Way for Korean Air Merger
Asiana Airlines' board of directors has officially approved a plan to sell its cargo business, a critical step in its proposed merger with Korean Air. This divestment is a key remedy required by the European Commission to address competition concerns. Korean Air has selected Air Incheon, a South Korean cargo carrier, as the preferred bidder for the unit. A final contract must now be signed with Air Incheon. Following that, the European Commission will review the sale to determine if it resolves their concerns, which would clear the way for the merger's final approval.
Official Source: https://www.businesstravelexecutive.com/news/korean-air-and-asiana-airlines-take-another-step-toward-merger/
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