Czech Airlines next for Aeroflot takeover

THE Czech government has put its share of Czech Airlines (CSA) up for sale. Aeroflot has officially announced its interest and to take part in the privatisation of the airline.

“According to European rules, Aeroflot, not being a European Community resident, cannot seek more than a 49 per cent stake in CSA. In the privatisation deal, we aim to have a partner who would be a Czech resident. Aeroflot is talking to prospective partners and will be able to declare its choice shortly,” said Aeroflot’s chief executive officer, Valery Okulov.

“The experience on such routes as Prague-Moscow and Karlovy Vary-Moscow, proved beneficial for both companies,” he added. “CSA is the largest and most stable airline in Central Europe in economic and market terms. By joining and mutually expanding their route networks, Aeroflot and CSA will be able to become more profitable. The synergy is certainly there. We started our cooperation long before any global alliances appeared. We have even more in common now that both belong to the same global alliance, SkyTeam,” said Okulov.

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