CSA Czech Airlines returns to profit in 2015

CSA Czech Airlines stated (19-Feb-2016) its return to operating profit is largely attributable to reductions in fleet capacity. CSA Czech Airlines board of directors chairman Jozef Sinčák said: "The greatest impact on Czech Airlines results, equal to approximately CZK630 million (EUR23 million), was accounted to the restructuring plan measures, primarily to the decreased fleet capacity by six A320 aircraft, greater aircraft capacity use, numbers of employees decrease to the necessary level and operating cost savings. The business model simplification and transfer to a one-way tariff structure, alongside decreased flight ticket price range resulted in higher average year-on-year ticket sales revenue and better seat capacity use. New projects, such as operations for carriers other than Czech Airlines in India and Saudi Arabia and sales of complementary services, contributed, among other factors, significantly to our improved economic results." [more - original PR]