ASIANA AIRLINES, INC

A020560
End-of-day quote Korea Stock Exchange - 06:00 2022-12-08 pm EST
13500.00 KRW +0.75%

Korean Air Talks to Several Southeast Asian airlines to Share Incheon-Los Angeles Route

09/13/2022 | 06:26am
(MT Newswires) -- Korean Air Lines (KRX:003490) is currently speaking to several Southeast Asian airlines to share its Incheon-Los Angeles route as it makes an effort to gain antitrust approval from US regulators in its acquisition of Asiana Airlines (KRX:020560), The Korea Herald reported Monday.

This is because according to the evaluations of both South Korean and the US antitrust watchdogs, after the Asiana Airlines-Korean Air merger, Korean Air is expected to single-handedly fly on the Incheon-Los Angeles route, it added.

Seoul’s Transport Ministry, at present, is reviewing the option for the merger of the two airlines, the news report said.

"As we wait for the approval for the merger, we are in talks with diverse domestic and foreign airlines to meet the requests of antitrust regulators," the report cited Korean Air.

Shares of Asiana Airlines rose more than 3% at market close on Tuesday while those of Korean Air Lines increased more than 4%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

MT Newswires 2022
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