The end of ČSA Czech Airlines ?

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TLspotting
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The end of ČSA Czech Airlines ?

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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.
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Re: The end of ČSA Czech Airlines ?

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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.
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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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Re: The end of ČSA Czech Airlines ?

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Czech Airlines' order for four A220-300s and three A321XLRs now shows as cancelled in the order book of Airbus.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines is negotiating with Airbus to acquire new aircraft, as the carrier wants to replace the ATRs and restore some long-haul flights.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines will substantially expand its services for the 2022 summer season, offering scheduled flights to 15 destinations in 14 countries as the airline is resuming traditional services.
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Re: The end of ČSA Czech Airlines ?

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sn26567 wrote: 11 Nov 2021, 16:47 Czech Airlines will substantially expand its services for the 2022 summer season, offering scheduled flights to 15 destinations in 14 countries as the airline is resuming traditional services.
Absolutely, just saw via Hopper & Skyscanner that CSA flights have appeared for the season (personal trip)...
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Re: The end of ČSA Czech Airlines ?

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CSA Czech Airlines welcomes a new investor, Prague City Air, which was formed by the owners of parent Smartwings. According to the reorganisation plan, Smartwings will provide the airline with a settlement loan of €5 million, from which creditors will be paid. Prague City Air should also provide CSA with an operating loan of €620,000 secured by an A319. The shares of the existing shareholders are to disappear completely, once the plan is approved by creditors. In 2023, five Smartwings aircraft are to help the airline, and from H2 2022, the company will gradually lease four new A220s.
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Re: The end of ČSA Czech Airlines ?

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sn26567 wrote: 11 Feb 2022, 16:15 CSA Czech Airlines welcomes a new investor, Prague City Air, which was formed by the owners of parent Smartwings. According to the reorganisation plan, Smartwings will provide the airline with a settlement loan of €5 million, from which creditors will be paid. Prague City Air should also provide CSA with an operating loan of €620,000 secured by an A319. The shares of the existing shareholders are to disappear completely, once the plan is approved by creditors. In 2023, five Smartwings aircraft are to help the airline, and from H2 2022, the company will gradually lease four new A220s.

Czech Airlines creditors approved their restructuring plan, with the court's approval pending. As a result, a new company Prague City Air is said to be the Czech Airlines investor, owned by the Smartwings owners. The investors will provide the airline with a loan of €5 million to pay off creditors.
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Re: The end of ČSA Czech Airlines ?

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sn26567 wrote: 30 Mar 2022, 00:06 Czech Airlines creditors approved their restructuring plan, with the court's approval pending.
Czech Airlines' reorganisation plan obtained approval by the bankruptcy courts. The plan drawn up by Smartwings meets all legal requirements.
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Re: The end of ČSA Czech Airlines ?

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Airbus has applied for the withdrawal of its claims in the insolvency proceedings of Czech Airlines, which asked the insolvency court to settle the withdrawal as soon as possible.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines has completed its reorganisation as noted by the insolvency court. CSA paid back debts of more than US$2.4 million, issued new shares and secured new investors and loans.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines lists Prague – Paris CDG as its sole scheduled passenger route in the winter season from 31 October 2022, as Prague – Hurghada service moves to Smartwings.
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Re: The end of ČSA Czech Airlines ?

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Czech Airlines aims to lease two A320s in spring 2023, and is considering the sale of its only aircraft, an A319 MSN 4713, in October 2022. Also, the first new A220-300 should also appear in the fleet from 2023.
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