Czech Airlines (ČSA) is planning to reduce its staff by one third. The server echo24.cz writes, that Korean Air, which acquired a 44-percent share in the trouble national air carrier last year, has halted their investment in ČSA.
Korean Air wanted to invest in ČSA and make Prague its main European hub. As a minority shareholder it only requested the right to veto personnel changes in the airlines and in its mother company, Czech Aeroholding. Echo24 writes, that Korean Air lost interest in Czech Airlines since Finance Minister Andrej Babiš announced that he planned to replace the current head of Czech Aeroholding, Miroslav Dvořák, with Václav Řehoř. Korean Air partners with the airlines operator Travel Service in the Czech Republic and wanted help the private air operator acquire a 34-percent share in ČSA. Echo24 speculates that ČSA could end up being taken over by a private air carrier if the Koreans decide to withdraw.
