Slow-moving Review Process
Korean Air announced on Sept. 9 that it has received approval from the Malaysian Aviation Commission for its marriage with Asiana Airlines.
The Malaysian Aviation Commission said Korean Air's merger with Asiana Airlines is aimed at saving a "failing firm," and does not violate Malaysia's competition law, Korean Air said.
Korean Air reported its merger with Asiana Airlines to nine countries in January this year. Thus far, it has obtained approval from Turkey and Taiwan. Thai authorities have recently notified Korean Air that they have ended their business combination review. Philippines' authorities said the review procedure would be terminated because the merger plan is not subject to reporting. The Philippines is an optional report country.
"We are waiting for approval from other obligatory report countries, including the United States, the European Union, China, and Japan, while actively responding to their requests for additional information," Korean Air said. "We plan to complete the acquisition process as soon as possible.