The national carrier Czech Airlines (CSA) blames soaring oil prices for multimillion dollar losses

In business news, the national carrier Czech Airlines (CSA) sustained a loss of 464 million crowns in the first half of this year, not the planned profit of 177 million crowns, Czech public television reported. The results were based on documents discussed by the carrier's supervisory board, as Czech Airlines has not published the results. CEO Jaroslav Tvrdik blamed jumps in the price of fuel for the losses.