5-Mar-2013 9:52 AM

Korean Air sole bidder for a 44% stake in Czech Airlines: report

Korean Air is reportedly the sole bidder for a 44% stake in Czech Airlines, according to a report by idnes.cz. The Czech Government launched the new privatisation attempt in Dec-2012. The Finance Minister will reportedly provide an update on the situation on 06-Mar-2013. As previously reported, Korean Air president and COO Chi Chang-hoon, commenting on the carrier's interest in Czech Airlines, told The Korea Times: “The Eastern European market is growing rapidly. We would like to establish a stronger presence in the region. As part of this effort, we will spend several million dollars to become the second-largest stakeholder in Czech Airlines. However, we will not be involved in the management”.