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Slovak air carrier should be sold in 2006

THE ECONOMY Ministry expects that the privatization of a state-controlled 34-percent equity stake in air carrier Slovenské aerolínie may be completed in the first quarter of next year, the SITA news agency reported.

THE ECONOMY Ministry expects that the privatization of a state-controlled 34-percent equity stake in air carrier Slovenské aerolínie may be completed in the first quarter of next year, the SITA news agency reported. Ministry spokeswoman Dagmar Hlavatá said that the selection process could be completed by the end of this year. In July the Slovak Economy Ministry invited potential investors to express interest in buying the state-owned stake in the airline. Austrian Airlines Group (AUA) currently owns 63 percent in the Slovak airline company. The government's stake decreased from almost 90 percent to 34 percent at the beginning of this year. AUA increased its share capital in Slovenské aerolínie by Sk114.6 million (€3 million) to Sk184.8 million (€4.7 million) through SLL, a company based in Bratislava. In doing so the Austrian airline upped its stake to 63 percent in Slovenské aerolínie.

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