Skyteam member Korean Air has taken a 44% share in fellow member CSA Czech Airlines
This will split the ownership of CSA Czech Airlines between the Czech Republic (56%) and Korean Air (44%). There is a provision that Korean Air must have a holding of 34% for up to five years.
Korean Air will expand its network at Prague, with increased codeshares on CSA and connection timings. Meanwhile Korean Air will lease a Airbus A330-300 to CSA so they can launch a Prague-Seoul route.
This will allow CSA and Korean to operate a 7 day a week service.
Korean Air’s CEO Yang Ho Cho said
“We have known Czech Airlines for a number of years, during which we have both been part of the SkyTeam alliance. Our successful codeshare collaboration only confirms that our decision to become a strategic partner of the Czech national carrier, culminating in our signing of the contract, is the correct decision.”
This is an interesting move by Korean Air who are attempting to replicate what Ethihad has done with one airline – abide taking a larger share of an airline.
Lets hope it pays off for them…