The Czech government is looking for a strategic partner for its national airline carrier, ČSA. The airline’s CEO Miroslav Dvořák, however, fears the government will not find one. Investments on the airline market are thinning out, Dvořák said during a debate Sunday on Czech Television. Many European airline companies are for sale, including those which have already changed hands in the past, and Dvořák places the probability of ČSA finding a strategic partner at about 70 percent.
ČSA is currently restructuring itself, but Prime Minister Petr Nečas believes this is the right time to look for an investor and does not want to wait. The restructuring process should finish next year. The price is not the government’s main concern. Rather, government officials said they want an investor that is able to support the long-term development of the airline carrier. Ernst & Young has valued ČSA at CZK 148m.
