22. 6. 2005 - CSA General Meeting approves Annual Financial Statement for 2004; 324.2 million CZK profit announced
Prague – June 22, 2005
As per the audited results, Czech Airlines achieved a net profit of 324.2 million CZK in 2004. According to International Financial Reporting Standards (IFRS) the profit is 22.9 USD.
“IATA has put CSA on its list of the fastest growing airlines in 2004. Despite the current turbulent environment, influenced mostly by the steep rise in oil prices, we succeeded in increasing our level of profit and improving our operating results as well,” says Jaroslav Tvrdík, President and Chairman of Czech Airlines.
Other transport figures, such as the number of carried passengers also grew dynamically. Czech Airlines extended its network by adding 10 new destinations in 2004 and it increased flight frequencies to 19 cities already in the network. These moves resulted in achieving the record number of carried passengers, which totalled in 4.34 million and represented a year-on-year increase of 20.6%.
CSA achieved significant success by re-entering the charter market in 2004 where its share was 20% of the market.
In compliance with its plan for fleet extension, CSA obtained 10 aircraft in 2004, ending the year with 45 airplanes in total. The company puts a high emphasis on modernizing its fleet as this will increase competitiveness and reduce costs.
In terms of on-time performance, Czech Airlines ranked 6th on the AEA (Association of European Airlines) annual chart evaluating results for 2004. The strategic goal of the company was to reach 7th place in 2006, thus another key indicator exceeded expectations thanks to CSA’s highly proficient and responsible employees.