ACCC grants unconditional clearance to Korean Air, Asiana Airlines merger

The Australian Competition and Consumer Commission (ACCC) has granted unconditional clearance to the proposed merger between Korean Air and Asiana Airlines. Under the deal, Korean Air, advised by Gilbert + Tobin (G+T), will acquire a majority interest in Asiana which is worth about $1.6bn. Elizabeth Avery, G+T’s lead partner on the deal and its head of competition and regulation, said: “The airline industry has experienced significant disruption in the past few years. We are delighted to have worked together with Korean Air to achieve such a fantastic result, enabling Korean Air and Asiana to continue to provide a competitive offering