said on Thursday its board had approved the sale of the company's cargo business - an important step towards allaying EU competition concerns about a proposed takeover by Korean Air Lines
"While Korean Air continues its efforts to secure the approval from the European Commission, the airline will also communicate closely with the remaining regulatory bodies to finalize the approval process as quickly as possible," Korean Air said in a statement. Asiana creditors, including state-run lender Korea Development Bank, have been looking for a new owner for the debt-laden carrier for several years. Korean Air agreed to acquire Asiana in 2020.
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