In June, Korean Air named Air Incheon as the preferred bidder for the deal. The European Union's competition regulators required the sale as a precondition for approving the Korean Air-Asiana merger.
In a regulatory filing, Korean Airs said it considered Air Incheon’s reliability in completing the transaction, its ability to maintain and develop long-term business competitiveness, and its capacity to mobilize funds through a competent consortium.
The South Korean flag carrier noted that it had closely discussed the matter with EU regulatory authorities.
The final sale agreement with Air Incheon will be signed after Korean Air completes the merger deal with Asiana.
Korean Air plans to finalize the merger this year. It will undergo an EU review for final approval, which will be followed by a U.S. decision.
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