Business Round-Up
Korean Air buys into Czech Airlines
May 1st 2013
Korean Air (KAL) has bought 44% of Czech Airlines, the first time a South Korean airline has acquired equity in a foreign carrier. Read More »
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Yang Ho Cho, chairman and CEO of the Hanjin Group and KAL, said the two airlines had established a relationship as fellow members of the SkyTeam alliance. Positive results from their code-share partnership lead to KAL’s purchase of a strategic holding in the Prague headquartered airline.
KAL said it would increase its network through Prague to several European cities as well as expanding its code-shares with Czech and improving its connection schedules between KAL and Czech flights.
KAL operates a fleet of 155 aircraft, including the A380, flying to 125 cities in 45 countries. The Korean carrier will lease one of its A330-300s to Czech, which will fly the aircraft on planned twice-a-week services between KAL’s home base at Incheon and Prague.
Czech’s 24 airliner fleet services a network of 44 cities in 24 countries.
