Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.CSA privatisation is ongoing
By Administrator |
The caretaker government of the Czech Republic said this week that it will continue with the sale process of state-owned CSA Czech Airlines with a single bidder after Air France-KLM withdrew from what is one
of the biggest privatisations expected in central and eastern Europe this year.
The government is continuing its negotiations with the Czech consortium Unimex and Travel Service and it has extended the deadline for the consortium's bid by 15 days until September 30, after which it will submit the sale decision to the government, just prior to the scheduled October election.
Prior to Air France-KLM/s withdrawal from the process, analysts were expecting the sale to generate the equivalent of around $275.3m for the state, although analysts say that with only one bidder left, the price that is offered could come down.
CSA has seen its passenger numbers fall by about 10% in the first half of the year, with its first-quarter loss reported at $51m from $44m in the same period the year before.
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