Seoul: Korean Air Co. announced Thursday that the European Union has granted final approval for its merger with Asiana Airlines Inc. This development marks a significant milestone in the aviation industry, as it paves the way for the creation of a major global airline entity. According to Yonhap News Agency, the European Commission (EC) had initially provided conditional approval for the merger in February. To address competition concerns, Korean Air divested four of its European passenger flight routes to low-cost carrier T'way Air Co. Additionally, Korean Air has agreed to sell Asiana's cargo business to Air Incheon Co. as part of the remedies proposed to gain approval. Korean Air stated that the European Commission, the EU's executive body, announced the final approval of the 1.8 trillion-won (US$1.4 billion) merger deal after a thorough review of the proposed remedies over the past nine months. The merger, initially signed in November 2020, allows Korean Air to acquire a controlling stake in Asiana, the reby creating the world's 10th-largest airline by fleet size. The two full-service carriers, Korean Air and Asiana, collectively account for 40 percent of passenger and cargo slots at Incheon International Airport, which serves as the main gateway to Seoul. This merger is expected to bolster their competitive edge in the global aviation market.