The Turkish Competition Authority approves the transaction concerning the acquisition of joint control over an airline company but gives a "no-go" to certain provisions of the transaction agreement (Air France / Virgin Atlantic)

This case summary concerns an analysis of the Board’s Air France/Virgin Atlantic decision, [1] in which the Board evaluated the acquisition of joint control over Virgin Atlantic Limited (“ VAL ”) by Air France-KLM S.A. (“ AFKL ”), Virgin Group Holding Limited (“ Virgin Group ”), and Delta Air Lines, Inc. (“ Delta ”) (both Virgin Group and Delta were the existing shareholders jointly controlling VAL). The Board unconditionally approved the notified transaction by way of evaluating that the transaction would not result in the creation or strengthening of a dominant position in any relevant product markets in Turkey, and, in any case, it would not have an appreciable effect or likelihood to impede competition in any product markets in Turkey. However, the Board also concluded that its approval of

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Authors

  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)
  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)

Quotation

Gönenç Gürkaynak, Eda Duru, The Turkish Competition Authority approves the transaction concerning the acquisition of joint control over an airline company but gives a "no-go" to certain provisions of the transaction agreement (Air France / Virgin Atlantic), 18 April 2019, e-Competitions Turkish Antitrust, Art. N° 96500

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