newstodate.aero
Dec 11, 2014 (newstodate): Korean Air is obviously satisfied with initial results from its purchase in March 2013 of a stake in the Czech carrier CSA.
At a recent board meeting, Korean Air has stated its intention of increasing its stake in CSA from the current 44 percent by exercising options for a further 34 percent.
That would bring Korean's shareholding beyond the 50 percent which is the maximum allowed by EU for CSA to retain its designation as a EU carrier.
The idea is, however, for Korean Air to directly resell the 34 percent stake to the Czech company Travel Services that will then become the second largest shareholder i CSA.
With the coming new ownership structure, Travel Service would take over the entire charter operation business from CSA that would then be free to focus entirely on scheduled services.
The Travel Services Group operates a fleet comprising 27 aircraft.
At a recent board meeting, Korean Air has stated its intention of increasing its stake in CSA from the current 44 percent by exercising options for a further 34 percent.
That would bring Korean's shareholding beyond the 50 percent which is the maximum allowed by EU for CSA to retain its designation as a EU carrier.
The idea is, however, for Korean Air to directly resell the 34 percent stake to the Czech company Travel Services that will then become the second largest shareholder i CSA.
With the coming new ownership structure, Travel Service would take over the entire charter operation business from CSA that would then be free to focus entirely on scheduled services.
The Travel Services Group operates a fleet comprising 27 aircraft.