Czech Airlines in serious trouble
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Czech Airlines in serious trouble
There are conflicting rumours about the health of Czech Airlines; some have reported that the airline has made its c.430 staff redundant; the airline denies this, but it is reported that bookings are not being taken beyond March.
Czech Airlines, previously CSA, is the world's fifth oldest airline and was founded in October 1923. Due to its having been an Eastern Bloc airline, it has operated a very varied fleet; it was an early user of the Tu-104 and later, operated the IL-62, Tu-134, Tu-154 and then, the fall of communism, it followed Malev and LOT to look towards Europe and the US for its new fleet. 737-4/500s and A310s were used, then A319/320s and a sole A330.
https://www.jetphotos.com/photo/6188173
Czech Airlines, previously CSA, is the world's fifth oldest airline and was founded in October 1923. Due to its having been an Eastern Bloc airline, it has operated a very varied fleet; it was an early user of the Tu-104 and later, operated the IL-62, Tu-134, Tu-154 and then, the fall of communism, it followed Malev and LOT to look towards Europe and the US for its new fleet. 737-4/500s and A310s were used, then A319/320s and a sole A330.
https://www.jetphotos.com/photo/6188173
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The owners of CSA are smartwings (97.74%). It appears that smartwings are willing to let CSA go to the wall to simplify the corporate structure and send a message to the government about the need for support. I would also hazard a guess that the CSA labour contracts are more legacy than the smartwings ones.
Smartwings, the airline (formerly Travel Service Airlines, hence their ICAO designator TVS) and CSA are both owned by Smartwings Group (formerly Travel Service Group).
Only CSA seems to be in trouble not Smartwings airline.
P.S.:
CSA filed for chapter 11 this friday.
P.S.:
CSA filed for chapter 11 this friday.
Last edited by Less Hair; 26th Feb 2021 at 12:56.
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STN Ramp Rat
Yes indeed. It is a political mater now. Ain't no expert of the situation in the czech republic but the rescue plan has been on and off since the beginning of the pandeminc.
There is also a massive redundancy plan ongoing for the French base, they also want to get rid of the french contrat, which are the most valuable ones within the compagny.
Tough time !
Yes indeed. It is a political mater now. Ain't no expert of the situation in the czech republic but the rescue plan has been on and off since the beginning of the pandeminc.
There is also a massive redundancy plan ongoing for the French base, they also want to get rid of the french contrat, which are the most valuable ones within the compagny.
Tough time !
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According to local press, the largest part of the CSA debt (over 1 billion CZK) is ticket refund, due to flights cancellation during the pandemic. The most profitable routes will be continued (eg CDG KRP AMS SVO ARN) but probably taken over by Smartwings. The brand will remain but the airline will go burst.
