It is commonly required that tubes with defects exceeding $40\%$ of wall thickness in depth should be plugged; however, this criterion is too conservative for some locations and for some types of defects. Many studies have been done with the aim of developing an alternative plugging criteria, and these studies have shown that steam generator tubes with a certain range of axial through-wall cracks could remain in service without any safety or reliability problems. However, these studies have been limited, thus far, to consideration of single cracked tubes, necessitating a study on multiple cracks, which are commonly found. A crack coalescence model applicable to steam generator tubes with two collinear axial through-wall cracks was proposed in the previous study. In this paper, the investigation is extended to the parallel axial cracks spaced in a circumferential direction, because parallel axial cracks are more frequently detected during in-service inspections than collinear axial cracks. Interaction effects between two parallel cracks are evaluated by performing elastic and elastic-plastic finite element analyses.