Korean budget airline T’way Air is to launch flights between Seoul and four European cities later this year as part of a deal to approve Korean Air’s acquisition of Asiana Airlines.
T’way Air will “gradually” start to operate flights from Seoul Incheon airport to Paris, Rome, Barcelona and Frankfurt from the second half of 2024.
The airline will launch these routes using “remedy” slots arising out of Korean Air’s takeover of rival carrier Asiana, which has now been approved by the European Commission (EC).
“These measures are designed to maintain a competitive environment in the relevant markets,” said Korean Air in a statement, which added it would “provide comprehensive support” to T’way Air on the European routes.
Korean Air announced its £1.2 billion purchase of Asiana in 2020 but completion of the deal has been slowed by having to secure approval from 14 competition regulators around the world. The airline is still awaiting clearance from regulators in the US.
“With the EC approval secured, Korean Air continues to be focused on its discussions with the US competition authority to finalise the overall merger review processes as soon as possible,” the airline added.
The UK’s Competition and Markets Authority (CMA) approved the acquisition in March 2023 when Korean Air agreed to make slots available for Virgin Atlantic to operate between London and Seoul. Although the UK airline has yet to announce plans to start operating on the route.