Czech airlines needs money from Czech Republic

Aug 23, 2006 09:31 AM Filed under Economics , Flights to Prague and from Prague

Czech Airlines are in large loss. It was 532 millions crowns in a half of year 2005. This year it is 773 millions. Large help should come from money of Czech Republic.

Czech Airlines (CSA) have to pay new planes ordered by old management from Airbus company. Costs are higher by 11,3 per cents, mostly because of more expensive fuel and higher earnings. Required help is two milliards crowns. Czech Republic has more than ninety percents of share.

Large competition mostly cased by low-cost airlines like Smart Wings or SkyEurope takes customers away. A management of CSA tries to reduce loss by firing employees. one hundred and fifty accepted offer of ten salaries in change of leaving jobs in CSA.

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Theme: Flights to Prague and from Prague

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Time Navigation

Newer articles:

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Older articles:

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