Prague: CSA was able to exit insolvency proceedings

Prague: CSA was able to exit insolvency proceedings

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On June 28, 2022, the airline CSA Czech Airlines was able to exit the restructuring procedure that had been in place since March 10, 2022. The competent court declared this to be completed by order.

Numerous changes were made during the process. For example, CSA is no longer a subsidiary of Smartwings, but is now owned by the owners of the latter airline via a holding company. So you have become a sister company. However, flight operations are still very restricted.

In the course of the insolvency proceedings, CSA had to downsize significantly. Many employees were made redundant and numerous aircraft had to be handed over. They were also in a clinch with Airbus, but were able to resolve the disagreements. The SkyTeam member's management is currently in negotiations with the European aircraft manufacturer for the delivery of four A220s. It is very likely that these will be obtained from a leasing company.

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