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Korean Air to offer to sell Asiana's cargo business, routes to satisfy EU regulators: Sources

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BRUSSELS: South Korea's biggest carrier, Korean Air Lines, will offer to sell Asiana Airlines' air cargo business and divest routes to four EU cities in a bid to gain EU antitrust approval for acquiring its rival, two people familiar with the matter said.

The airline sector has seen a wave of consolidation recently, with Lufthansa acquiring a 41 per cent stake in Italy's ITA Airways and British Airways and Iberia owner IAG buying the remaining 80 per cent of Spanish carrier Air Europa it does not already own.

Korean Air is now in talks with several rivals and will likely clinch a deal with a Korean air cargo competitor to buy the assets, one of the people said on Tuesday .

 

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