The Prague District Court opened insolvency proceedings against the Smartwings subsidiary CSA Czech Airlines. The first creditors' meeting is scheduled for June 7, 2021. The attorney Petr Pacholík was appointed as trustee. The latter has to submit a complete list of creditors to the court by May 17, 2021.
During the creditors' meeting, to which only representatives of claims recognized by the court are admitted, the further fate of the Smartwings subsidiary is to be decided immediately. Various options are legally possible: the creditors and the court could adopt a restructuring plan, order the sale, or decide on bankruptcy and thus the liquidation and realization of assets.
Most recently, it was announced that CSA would be effective immediately Stop operation of the ATR72 pattern becomes. Incidentally, the company did not receive state aid because Smartwings strictly refused to allow the state to participate. The parent company, however, received support from the government, but for legal reasons nothing could be passed on to CSA.