Korean Air and Czech Airlines have formalised Korean Air’s acquisition of 44 per cent of the Czech airline at a signing ceremony in Prague.  By acquiring the stake, Korean Air becomes the airline’s second largest shareholder. Korean Air chairman Yang Ho Cho expressed his support of the transaction by saying “We have known Czech Airlines for a lot of years, by which we’ve got both been component of the SkyTeam alliance. “Our successful codeshare collaboration only confirms that our decision to become a strategic partner of the Czech national carrier, culminating in our signing of the contract, is the suitable decision.” 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...
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