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Company Watch - CSA Czech Airlines.

For more company news, data and analysis, please go to: Aug 28, 2006

CSA Czech Airlines President Radomir Lasak this week reported half-year losses of CZK773 million ($35.2 million), widened from a CZK240 million loss in the first six months of 2005 but CZK20 million less than forecast, the CTK Czech News Agency reported. The carrier expects a full-year loss similar to the CZK496 million suffered last year but intends to return to the black in 2008. Revenues rose 8.9% to CZK 10.9 billion and costs increased 11.3% over the year-ago semester to CZK11.5 billion as the number of passengers climbed 6% to 2.5 million. Aug 24, 2006

CSA Czech Airlines unveiled its OK 06-08 restructuring program two months ago calling for elimination of 10%-20% of its payroll, or up to 1,000 employees. Lasak told CTK that 224 staff members have accepted a buyout so far and another 150 are expected to follow soon. The airline expects to save CZK150-CZK200 million through its turnaround measures this year and CZK500 million next year. Aug 24, 2006

TFC GmbH Kaufer was chosen by CSA Czech Airlines to supply an A320 cabin training simulator. It is scheduled for delivery to CSA's Prague training center in September 2007. Aug 22, 2006
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Publication:Airguide Online
Geographic Code:4EXCZ
Date:Aug 28, 2006
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