South Korea has reportedly informed Czech Aeroholding of the South Korean airline’s plans to acquire an additional 34 percent of Czech Airline currently owned by Czech Aeroholding.
According to reports, Korean Air signed a deal to acquire 44 percent of Czech Airline last April, a deal that included Korean Air’s option to acquire more of the Czech firm from Czech Aeroholding.
Following the acquisition, Korean Air said it will sell 34 percent of Czech Airline to carrier Travel Service, which will become a co-shareholder in Czech Airlines.
In addition to Czech Aeroholding, Korean Air and Travel Service, Ceska Pojistovna holds a 2.26 percent stake in Czech Airline.
The acquisition is part of Korean Air’s efforts to establish Prague as its European epicenter; the introduction of Travel Service in the partnership will reportedly boost Korean Air’s connections in Europe by 40 destinations.
Full Content: Centre for Aviation
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI