Korean Air buys 44 percent of Czech Airlines – Prague to become hub
Korean Air has announced it acquired a 44 per cent of the Czech Airlines, the second largest airline in Central Europe. Founded in 1923, Czech Airlines operates 24 aircraft to 44 cities in 24 countries and is a member of the SkyTeam alliance, of which Korean Air is a founding member. The acquisition of Czech Airline’s stake is an historic moment for the Korean aviation industry as it is the first time that a Korean airline has taken a stake in a foreign airline.
Also, to help Czech Airlines operate direct flights between Prague and Seoul, Korean Air will lease the Czech carrier one of its A330-300s. Czech Airlines plans to operate direct flights between Prague and Seoul twice a week – providing their customers a wider choice of schedule. Korean Air passenger will greatly benefits from Czech Airlines extensive European network.
This new deal could be a huge boost for Prague in consolidating itself as a luxury city leisure destination. All major international luxury brands (fashion, jewellery, watches, accessories) are already present in Prague and the city boasts an excellent infrastructure with world class luxury hotels – a recently renovated Four Seasons, Mandarin Oriental, Kempinski, Rocco Forte etc.