Korean Air is expected to acquire 44% in SkyTeam partner CSA Czech Airlines. According to several media reports, the contract should be signed April 9. In February, ATW reported talks were in progress.
No official statements are available on whether Korean will pay the reported €2.64 million ($3.4 million) for the carrier and if there is a guarantee to retain employees and not re-sell the carrier after five-years. Czech Airlines and the Czech government could not be reached for comment.
The financially troubled Czech flag carrier has been looking for a potential investor for many years.
In December 2012, Qatar Airways said it was also considering taking part in the privatization of Czech. In 2009, the government was unsuccessful in its attempts to privatize the carrier following heavy losses from a failed expansion plan.
Czech plans to operate a leased Airbus A330-200 this summer from Prague to Seoul Incheon. Korean operates 4X-weekly flights on the same route, which could give Prague a more important role as a hub.