This paper contains a
comparative analysis of five jurisdictions that implemented merger remedies in
the Korean Air-Asiana Airlines merger case. It also examines how the European
Union (EU) and United States of America (US) air transport competition and
antitrust regulations, including rules on merger control, have been
transplanted and applied by other jurisdictions. Currently, the international
air transport industry lacks a foundation for regulatory convergence in these
areas, which are, or should be, subject to the relevant theories and methods in
order to achieve a more harmonized approach. In that context, the present paper
specifically identifies relevant market definitions, market power assessments,
and merger remedies in each of the five jurisdictions. It is concluded that the
traditional divergent approaches are in urgent need of a common stance on the
aforementioned, and other definitions and concepts.