8-Oct-2009 12:56 PM

CSA selling duty free unit, five aircraft to generate cash

CSA Czech Airlines’ Board approved a plan to sell the carrier’s duty free unit, as well as three B737-500s and two B737-400s over the next nine months, in addition to securing new bank loans, to generate up to USD285 million in fresh capital (AP, 07-Oct-2009). The Czech Government plans to sell its 91.5% stake in the carrier, and confirmed it will make a decision on the USD58 million bid by Czech Unimex-Travel Service consortium, the only bidder in the latest public tender, within the next few weeks.