13. 04. 2010 - The Czech Airlines Supervisory Board Approved the Restructuring Plan Proposal

Prague, 14 April 2010

The Czech Airlines Supervisory Board discussed the airline’s restructuring plan proposal yesterday, approved it, and agreed to present it to the Minister of Finance for further use.  The proposed Czech Airlines restructuring plan comprehensively addresses the operation of the Airline over the next three years. It is an extensive set of measures aimed at a realistic conversion of the company into a truly stable commercial entity.

The plan also confirms the heading of the company towards a holding structure, which is proving to be the most promising model. The parent company, Czech Airlines, will increasingly focus primarily on its core business – scheduled air carriage. Through its subsidiaries, it will operate and offer highly specialised and professional services in other areas. The most recent example would be the corporation Czech Airlines Handling, which commercially provides passenger and aircraft handling services not only to Czech Airlines, but also to a number of other reputable airlines.  Several weeks ago, Czech Airlines announced its plan to also hive off its irregular carriage business, so-called charters.

Czech Airlines is considering hiving off several other units into subsidiaries, provided they show the potential of being able to operate on the market independently. Further details of the restructuring plan will be available once a final decision has been made with respect to them.

 


Hana Hejsková
Communications Director
Czech Airlines Press Officer