labels: News reports, Airports, Airlines
Essar, GMR Group in fray for Czech airline, CSA, and Prague airport news
30 April 2008

Prague: Indian industrial conglomerate Essar Group, as well as infrastructure company GMR Group are in the running for Czech airline, CSA and the Prague airport company, Letiste Praha, according to a report in the Czech daily, E15. According to Czech deputy finance minister, Ivan Fuska, both the companies could be sold to one investor.

The suggestion that privatisation of both companies could take place simultaneously suggests a more flexible approach to the sales process on the part of the government, after earlier press reports which said the airport would be privatised first.

Meanwhile, Czech private equity group, Penta Investments, and Indian industrial conglomerate, Essar, in a joint venture with Germany's Hochtief, are among the potential bidders for both the companies, E15 said.

According to reports, Air France, Russian flag carrier, Aeroflot, Czech company Penta Investments and US investment group, Odien Group, are reportedly interested only in the airline, while Indian firms, Essar and GMR Group, along with Singapore giant, Changi Airport, are amongst the bidders for the airport.

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Essar, GMR Group in fray for Czech airline, CSA, and Prague airport