EU antitrust regulators have temporarily halted their investigation into Korean Air Lines’ planned acquisition of Asiana after the former requested additional time to develop remedies that address competition concerns, as stated by the South Korean carrier on Wednesday.
According to Reuters, the temporary halt was implemented on June 23, as shown on the European Commission’s website.
“Korean Air has requested a deadline extension to render comprehensive remedies that can address the EC’s concerns, and the EC approved the request,” the airline said in a statement.
“Korean Air will soon submit a remedy package and finalise the discussion with the EC within the new deadline.”
Last month, the EU competition watchdog issued a warning about the deal between Korean Air and Asiana, stating that it could potentially limit competition in passenger and cargo air transport services between Europe and South Korea due to Korean Air becoming the largest shareholder in the financially troubled Asiana.