The Competition and Consumer Commission of Singapore (CCCS) has approved Korean Airs’ combination with Asiana Airlines. Following its assessment, the CCCS has concluded that Korean Air’s acquisition of Asiana Airlines will not infringe Singapore’s Competition Act. Singapore’s competition authority conducted a public consultation in July last year and found that the merged entity is unlikely to raise ticket prices due to the high degree of competition from competitor airlines such as Singapore Airlines in the passenger business. In the cargo business, the authority also concluded that the merger would not reduce competition due to the significant pressure from existing and potential competitors such as Singapore Airlines and providers of indirect cargo flights, as well as excess capacity. Following the assessment, the CCCS approved the business combination of the two airlines.
Singapore approves Korean Air-Asiana Airlines merger
