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Ostrava sees operating profits for the full year

Czech airline attributes return to operating profit to cost cutting

Published: 10/26/1999

Air Ostrava, based in north Moravia in the Czech Republic, has reported an operating profit of Kc2.4m on revenues of Kc230.5m for the first half of 1999, compared to an operating loss of Kc29.9m on revenues of Kc225.5m in the first six months of 1998. Milan Rousar, President, attributed the results to “radical cost saving measures taken in the second half of 1998”. The company currently has to contend with Czech Airlines' (CSA) decision to end cooperation with Air Ostrava on flights to some destinations. The bankruptcy of Chemapol Group, which controls Air Ostrava, could also pose problems. Despite these difficulties, Air Ostrava is confident that it can end the year with an operating profit.

Article ID: 1022

 

 

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