Czech Airlines to cut fleet by third in one year.

By bne IntelliNews September 19, 2011
Czech Airlines (CSA) plans to reduce its fleet to 26 airlines by 2012 from 39 at end-2010, Mlada fronta Dnes reported citing company president Miroslav Dvorak. After 2012 the company will gradually sell its seven Boeing planes and keep the 19 Airbuses, Dvorak added. At least 30 pilots and a corresponding number of air stewardesses will be laid off. The number of company's employees is seen at 1,400 at end-2011. Earlier this year, CSA said it plans to cut the number of destinations to between 40 and 45 in the next two to three years from 60 currently. CSA returned to a pre-tax profit of CZK 73.36bn in 2010 from a loss of CZK 3.68bn a year ago. The company's revenue dropped by 14.8% to CZK 16.9bn and passengers fell by 2.4% to 4.59mn.

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