The end of ČSA Czech Airlines ?

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TLspotting
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The end of ČSA Czech Airlines ?

Post by TLspotting »

Hello !

The end might be near for ČSA, a 98 years long story.

No state aid from Czech government so...ČSA Czech Airlines has announced a collective redundancy to the Labour Office – 430 jobs threatened : https://www.aviation24.be/airlines/czec ... hreatened/

The airline is nearly insolvent, they currently have 2 or 3 aircraft, focusing on 4 profitable routes, ATRs are out, they have filed for volountary restructuring.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

TLspotting
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Re: The end of ČSA Czech Airlines ?

Post by TLspotting »

Bankruptcy for CSA, declared by the court of Prague, CZK 1.8B debt (€68,745,600 or US$82,101,600). Karviná Inskol is the corporate as administrator of insolvability. Operations continue at the moment.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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sn26567
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines plans to renew its connections to five European destinations in the coming weeks, with flights to Amsterdam, Copenhagen, Malta, Iceland, and Odessa.
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Re: Airline bankruptcies, ceased operations, restructurations

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Czech Airlines is trimming its corporate workforce down to about 100 employees. The redundancies will affect non-flight personnel. In June 2021, CSA’s creditors will discuss its reorganisation plan. If it is not approved, the company will be folded.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines, which has been in bankruptcy since March 2021, is facing 2,487 creditors in bankruptcy proceedings.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines is resuming flights to another five European destinations in May and June 2021, including Copenhagen, Odessa, Reykjavik, Amsterdam, and Malta.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines plans to fly with six aircraft in 2022 and reach 17 aircraft by 2025. Any additional requirements for air capacity in 2021 will be covered by ACMI agreements. CSA also plans to transition to a virtual brand, flying for other carriers.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines insolvency proceedings recognised the claims of creditors in the amount of US$39.3 million. The unconfirmed claims are currently over $34.9 million.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines creditors has approved the reorganization of the company after the courts reviewed the receivables from the carrier.
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