Czech Airlines Returns To Profit, Cites Fleet Reductions

Flag carrier Czech Airlines posted an operating profit of CZK223m ($9m) for 2015, improving on the previous year's CZK631m ($25.6m) loss.

Flag carrier Czech Airlines posted an operating profit of CZK223m ($9m) for 2015, improving on the previous year's CZK631m ($25.6m) loss.

In a statement released on Friday (February 19), the airline attributed the turnaround to restructuring measures which included taking six A320s out of its fleet and reducing staff and operational overheads.

Jozef Sinčák, chairman of Czech Airlines, said: “New projects such as operations for carriers other than Czech Airlines in India and Saudi Arabia and sales of complementary services contributed, among other factors, significantly to our improved economic results.”

Sinčák added that the carrier is targeting an operating profit of CZK180m ($7.3m) for 2016.

 

TAGS: Europe
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