Finance minister meets sole-bidder for ČSA, says no takeover would happen until next spring

Finance Minister Eduard Janota has said that if the government decides to sell troubled national carrier Czech Airlines to the sole-bidder Unimex, the sale will take place next spring at the earliest. After meeting the head of Unimex, which is bidding for the airline as part of a consortium with the firm Travelservice, Mr Janota said the government’s decision on whether to sell the carrier would be finalized after next Tuesday. Unimex has said that it will pay one billion crowns (57.3 million USD) for the airline on the condition that ČSA sorts out its debts. The airline announced record debts earlier this year, and new crisis manager Václav Novak has asked the government for three billion crowns to help it restructure.

Author: Rosie Johnston