Industry and Trade Minister: state could buy up to 100% of shares in Smartwings

16-05-2020

The Czech state could buy up to 100% of the shares in the air carrier Smartwings, the majority owner of Czech Airlines, Minister of Industry and Trade Karel Havlíček said in an interview for Czech Television on Saturday.

Mr Havlíček said the company had a strategic importance for the state airport as well as other airports in the country and employed thousands of people.

According to the minister, the Czech government is due to discuss the possibility of helping the company deal with the economic consequences of the coronavirus crisis. The final decision is expected to be made by the end of June.

Smartwings became the majority shareholder of Czech Airlines at the end of February 2018. Last year, it carried over eight million passengers.