Buffeted by the twin gusts of soaring fuel prices and slumping traffic, European airlines are looking for partners, in either full-fledged mergers or more limited alliances, and state owned carriers are deciding the time has come to privatize.
Continue reading below
British Airways plc earlier this month said it was in merger talks with Spanish flag carrier Iberia Lineas Azreas de Espana SA and days later announced plans for a commercial deal with AMR Corp.'s American Airlines.
The deadline for potential bidders to come forward in the auction for the 42.75% government stake in Austrian Airlines. is Aug. 24. Air France-KLM, Europe's largest airline, on Friday appointed Lazard to advise on a possible offer for the holding, which has been valued at €370 million. Separately a Czech Finance Ministry official said that the government's 92% stake in Czech Airlines may go on the block as early as this year. The shares are worth around $245 million. - Barbara Rudolph
