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Air France-KLM interested in acquiring Czech Airlines

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Monday, March 23, 2009

Aviation
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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.


Sources

Wikipedia
Wikipedia
Wikipedia has more about this subject:
  • Press Release: Czech Airlines: AF-KLM will be submitting a non-binding letter of intention — Air France-KLM, March 23, 2009
  • Agence France-Presse. Air France-KLM shows interest in Czech Airlines — AsiaOne, March 23, 2009
  • Algemeen Nederlands Persbureau. Air France-KLM wil belang in Czech Airlines — NU.nl, March 23, 2009 (Dutch)
  • Jethro Mullen. UPDATE: Air France-KLM Lodges Interest In Czech Airlines — EasyBourse, March 23, 2009


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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.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

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