Czech airline CSA cuts 2006 loss to 14.1 million euros

Czech state-controlled airline CSA said on Thursday it had cut its 2006 losses to 397 million crowns (18.5 million dollars). According to international accounting standards, the pre-tax totalled 1.5 million dollars, the airline added. CSA said it counted on making a 42-million-crown profit this year. But it cautioned that the result would depend on further restructuring and sales of non-core assets and that a new labour code could have a negative impact of up to 180 million crowns.