Korean Air Clears US Antitrust to Close $1.3 Billion Asiana Deal

Korean Air Lines Co. has cleared the final regulatory hurdle in its 1.8 trillion won ($1.3 billion) merger with smaller rival Asiana Airlines Inc., to form one of Asia’s largest airline groups.

The South Korean carrier has completed the acquisition of about 131 million new shares in Asiana to own a 63.88% stake in the rival company, Korean Air said in an emailed statement Thursday. That officially indicates that the US Department of Justice decided not to challenge Korean Air and Asiana’s long-running bid to tie-up, marking the last of 14 jurisdictions to approve the deal.

The merger caps ...