13-Nov-2012 3:44 PM

Risk Czech Airlines will not find a strategic partner is very high: Cesky Aeroholding

Cesky Aeroholding CEO Miroslav Dvorak said the risk Czech Airlines (CSA) will not find a strategic partner is very high, according to a report by Czech News Agency and Czech Television. The market for airline acquisitions is frozen and virtually most air companies in Europe, except the largest one, are put up for sale, Mr Dvorak said. "Even those that had already been a subject to acquisition in the past," Mr Dvorak said. The probability that CSA, which is part of Cesky Aeroholding, will not find a strategic investor at the moment is higher than 7%", he added. The Government in the past week approved a the search for a strategic partner. Prime Minister Petr Necas said now it is a good time to take such a step and not to wait until CSA completes the restructuring process in 2013. All the parameters show that CSA is a stable company, said Mr Dvorak. "I don't dare to say that nothing happens if a partner is not found," he added.

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