The UK Competition and Markets Authority said Friday that it has started a formal investigation into Korean Air Lines’s $1.29 billion acquisition of Asiana Airlines Inc. to see if the deal will lead to a substantial lessening of competition within its markets.
The regulator has set a deadline of Nov. 14 for its Phase 1 decision. The airline said in November 2020 that it would buy ailing peer Asiana in a major pandemic-induced shakeup for South Korea’s aviation industry.
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