Czech Airlines ask for cash injection from government
The struggling state-controlled Czech Airlines is asking its main shareholder, the finance ministry for a cash injection of about 2 billion crowns, company president Radomir Lasak said on Thursday denying speculation that Czech Airlines is on the verge of bankruptcy. According to Transport Minister Ales Rebicek, the government will now examine whether such a step would be possible without EU consent. The insurance company Ceska Pojistovna has expressed interest in a recapitalisation of CSA on condition that it can exert some influence on the carrier, spokesman Vaclav Balek said on Thursday. The airline lost 800 million crowns (28.1 million euros, 35.7 million dollars) in the first half of the year.