The Czech government on Monday cancelled the sale of the state-owned national carrier, saying the only bid it received was too low.
A total of four bidders, including Russia's Aeroflot, initially joined the first round of a tender to buy Czech Airlines at the beginning of the year.
Unimex-Travel Service and Air France-KLM were chosen by the Czech government in April, but Air France-KLM pulled out of the race in August citing tough times for the air industry.
Czech consortium Unimex-Travel Service then remained the only bidder offering one billion Czech koruna (⁈lion) for a 91.5 percent stake in the company, far below what the Czech government earlier this year said it expected.
Finance minister Eduard Janota said Monday the Unimex deal was unacceptable, citing the low price as well as technical conditions.
