Korean Air stake in Czech Airlines approved

Korean Air stake in Czech Airlines approved

The sale of a 44% stake in loss-making Czech Airlines to Korean Air was approved yesterday (Wednesday).

The Asian carrier was the only bidder for the state airline and will buy the stake for €2.64 million.

A Czech government source told Reuters that the contract would be signed on April 9.

CSA said: “The main goal of this for both parties is to work on the development of Prague airport as a hub and CSA as a carrier so obviously there will be some changes."

Both airlines are part of the SkyTeam global alliance.

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