Air France-KLM Withdraws from Czech Airlines Privatization

Air France-KLM informed the Czech Ministry of Finance of its decision to withdraw from the process for the privatization of Czech Airlines, or Ceské aerolinie a.s. (CSA), the national airline of the Czech Republic.

"The current economic environment has significantly impacted the airline business," the company announced in a press release. "Under such circumstances, Air France-KLM believes that CSA might focus on developing and implementing a stand-alone recovery plan aimed at restoring its profitability.

In this context Air France-KLM wishes to further strengthen the existing partnership between the two groups and to continue to explore with CSA any new areas of cooperation that could be of mutual benefit to each company."