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Air France-KLM interested in acquiring Czech Airlines

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Monday, March 23, 2009

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On Monday, Europe's largest airline, Air France-KLM, stated that it is interested in buying a large part of Czech Airlines (CSA). Last month, the Czech government announced that it is planning to sell its 91.51% stake in Czech Airlines, expecting to generate about US$270 million. The Czech Ministry of Finance owns 56.92% and the Czech Consolidation Agency 34.59%. The remainder is owned by other Czech institutions.

Logo of Air France-KLM

Air France-KLM made a non-binding offer on this share: "Air France-KLM in a letter will today make a non-binding expression of interest in order to have access to detailed documentation on the company". According to the airline, the Czech government expects no binding offers before June: "Firm offers are not expected before June, after an in-depth analysis of Czech Airlines by the candidates". Air France-KLM stated that "its [Czech Airlines'] network is highly complementary to that of Air France-KLM. Among other things, it would enable the Group to strengthen its position in Central and Eastern Europe". Czech Airlines has a fleet of 51 planes.

Both Air France-KLM and Czech Airlines are part of the SkyTeam alliance, which also includes Aeroflot. The latter also expressed interest in buying Czech Airlines.


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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

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The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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