Czech Airlines could make profit if restructured: CEO

Czech Airlines could make profit in 2010 if the company is re-structured, CEO Radomír Lašák told Czech TV on Sunday. The state-owned firm should cut 1,000 of 4,600 jobs and keep 45 aircraft. In August, Czech Airlines posted a loss of 1.83 billion crowns, or more than 105 million US dollars. The Czech government is planning to privatize the national carrier; the sole bidder, UNIMEX, offered the state one billion crowns. The cabinet is scheduled to decide on the company’s privatization on October 26.

Author: Jan Richter