[CK]

Four groups interested in Czech Airlines

The Czech Republic received four preliminary bids for its 91.5% stake in Czech Airlines CSA and said the winner should be known by the end of September at the latest. Aeroflot, Air France-KLM, private equity firm Odien and a consortium comprising Czech Unimex Group and Travel Service all submitted applications in the first round of tendering, the finance ministry said on Monday. The govt is selling its stake in the airline. Analysts expect the sale of what is a relatively small European airline hit by leasing costs as well as the economic downturn to fetch up to 5b crowns (US$255m). Bidders need to meet conditions such as keeping CSA's national identity status to prevent the airline losing international routes outside Europe.

Full Story: http://www.reuters.com/article/rbssI...45316320090323