The US Department of Justice (DOJ) has given the final approval needed for Korean Air to acquire Asiana Airlines, it reported on December 3, 2024. The news was reported in Korean outlet Maeil Business Newspaper and cited industry sources.
The approval marks the end of four years wait after the acquisition was first announced in November 2020, as well as the 14th and final regulatory approval necessary for the deal.
The DOJ reportedly indicated it would not file an antitrust lawsuit, which is considered an approval for the merger.
The European Commission (EC) approved the merger in February 2024. Japan had also given its approval a month prior. Other countries that gave their approval included Australia, China, Malaysia, Taiwan, Thailand, Türkiye, South Korea, and the Philippines.
Air Incheon signed a framework agreement to acquire Asiana Airlines' cargo division, with the new merger expected to launch in summer 2025.
Korean Air reportedly plans to finalise the acquisition by the end of the year. By December 20, 2024, Korean Air is expected to invest 1.5 trillion won ($1.5bn) through a third-party allotment to acquire a 63.9% stake in Asiana Airlines.