SEOUL : Asiana Airlines said on Tuesday it would reconvene a board meeting in early November to decide whether it should accept prospective buyer Korean Air’s proposal that includes the sale of its cargo operations over EU antitrust concerns.
Asiana’s board failed to decide in a meeting on Monday whether to accept Korean Air Lines”s offer.
“A board meeting that is now in recess will resume in early November and make a final decision,” Asiana said in a statement.
South Korea’s biggest carrier Korean Air planned to submit corrective action plans to the European Commission (EC) by the end of October to gain European Union antitrust approval over a proposed takeover of its smaller rival Asiana, a source familiar with the matter told Reuters earlier this month, though that timing could slip.
Yonhap said that since Asiana’s board had dragged out its decision, Korean Air’s submission to the EC would be delayed.