Czech Connect Airlines has filed for bankruptcy, with the operations of the Ostrava-based carrier ceasing on 21-Jan-2012. According to local medial reports from Mladá fronta dnes and Radio Prague, the suspension occurred after one of the carrier's main investors reportedly withdrew from the carrier. The airline’s owners and management will be discussing measures to save Czech Connect Airlines, launched in 2011, and to minimise the impact on customers, employees and business partners. Czech Connect Airlines' network was predominantly focussed on scheduled services to Russia and charter services for travel agencies to summer destinations. In 2011, the carrier handled around 108,000 passengers with a fleet of one Boeing 737-300 and a 737-400.
Czech Connect Airlines files for bankruptcy
You may also be interested in the following articles...
Airports - subject as always to the vicarious uncertainty of airline fortunes
CAPA’s 2016 outlook was against a background of unusually high levels of profitability for airlines.
CSA Czech Airlines: restructuring, partnerships, and now growth for SkyTeam's smallest airline
One of the five oldest airlines in the world that are still in operation, CSA Czech Airlines is also the smallest airline in SkyTeam by passenger numbers. After several years of losses the airline returned to profit in 2015 and expects another positive result in 2016, albeit below last year's level. CSA Czech Airlines is growing once more this year, after a restructuring programme involving reductions in its fleet, capacity and headcount it has also developed a profitable contract flying business. Together with lower fuel prices, its restructuring has helped to achieve the airline's turnaround.
CSA Czech Airlines has a predominantly European network. Its only intercontinental route is from Prague to Seoul, the hub of its part-owner – codeshare partner and fellow SkyTeam member, Korean Air. Its biggest destination market is Russia, but this is followed by the Western European countries France, Italy and Germany. It has a relatively low share of seats at its hub in Prague, where LCCs have a significant share and Ryanair has opened a base this winter. However, although CSA faces strong competitors on routes to non-SkyTeam hubs, competition is limited elsewhere by its targeting of niche regional routes and its use of codeshare agreements (including with Travel Service, another part owner).