CSA Czech Airlines (OK, Prague Vaclav Havel Ruzyne (PRG)) took delivery of an A330-300, OK-YBA (c/n 425) leased from Korean Air (KE, Seoul Incheon International (ICN)), on Wednesday, May 15. The A330 will be deployed onto the Czech carrier's new Prague Vaclav Havel Ruzyne (PRG) to Seoul Incheon International (ICN) route due from June 1. The lease forms part of a deal between Korean Air and CSA in which the Korean carrier secured a 44% shareholding in the Czech national carrier earlier this year.

Korean Air (KE, Seoul Incheon International (ICN)) has signed a long term lease agreement with the Los Angeles-based Air Lease Corporation (ALC) for two brand new B777-300(ER)s, scheduled for delivery in November 2014 and May 2015 respectively. The South Korean carrier currently has eleven 777-300(ER)s, eighteen B777-200s, four B777-300s and three B777-Fs used to ply its international network.

Korean Air (KE, Seoul Incheon International (ICN)) has completed its acquisition of a 44% stake in CSA Czech Airlines (OK, Prague Vaclav Havel Ruzyne (PRG)), with options to buy the rest, following an official signing ceremony held in the Czech capital, Prague, on Wednesday. Speaking on the occasion, Cho Yangho, Chairman of the Board of Directors and CEO of Korean Air, said he considered CSA "a trustworthy partner with whom we wish to expand into Central and Eastern Europe", given the Czech national carrier's strong potential for growth. The first tangible benefits of the tie-up include the lease of a Korean Air A330-200 to CSA, which will be deployed on its new Prague Vaclav Havel Ruzyne (PRG)-Seoul Incheon International (ICN) route in cooperation with Korean Air from this summer, as already previously announced.

CSA Czech Airlines (OK, Prague Vaclav Havel Ruzyne (PRG)) could acquire two additional A330-300s in due course according to the CEO of Czech Aeroholding, Miroslav Dvořák. Mr Dvořák said the acquisition is unrelated to the upcoming lease of a Korean Air (KE, Seoul Incheon International (ICN)) A330-200, to be used on Prague Vaclav Havel Ruzyne (PRG) - Seoul Incheon International (ICN) flights this summer. Should the deal come through, it would signify CSA's first steps into relaunching a viable, international network out of Prague. Some added speculation lists New York John F. Kennedy International (JFK) as a potential destination though the Czech national carrier appears to be concentrating on consolidating its Russia, ex-CIS and Asian routes for the meantime.

Korean Air (KE, Seoul Incheon International (ICN)) will split its business operations into two separate entities from August 1 onwards. A new holding company called Hanjin KAL Holdings will be established that will manage the business and its investments in other companies while Korean Air will just continue to operate flights and day to day operations. Hanjin Group owns Korean Air and several other South Korean companies including Hanjin Shipping, a container ship operator.