Korean Air takes stake in Czech Airlines
Korean Air has acquired 44% of Czech Airlines, making it the airline’s second largest shareholder.
It is the first time a Korean airline has taken a stake in a foreign airline.
Both airlines are members of the SkyTeam alliance and have already worked together under codeshare agreements.
Under the deal, Korean Air plans to expand its network through Prague airport by increasing its codeshare flights and improving its connection schedules.
It also plans to help Czech Airlines operate direct flights between Prague and Incheon by leasing it one of its A330-300s.
Czech Airlines plans to operate direct flights between Prague and Incheon twice a week.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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