Czech Airlines makes operating profit despite fuel prices.
CSA Czech Airlines reported a CZK201m (”8.1m) operating profit for the first half of 2008.
The airline said this was an improvement of 650m Czech crowns (”20.9m) in its year-on-year performance.
But the carrier said its overall financial results revealed a loss for the six months of 178m crown (”5.6m).
CSA said that despite the increase in oil prices, it was both increasing its income and cutting its costs.
In the first half, operating income grew year on year by 377m crowns (”12.1m) to 11.17bn crown (”362.3m).
At the same time, operating costs dropped by 273m crowns (”8.9m) to 10.97bn crown (”355.9m).
Radom”r La””k, CSA”s president, said: ”In the first half of the year, Czech Airlines managed to nearly entirely offset increased fuel costs and the impact of the strong crown by operational improvements.
”We have managed to increase our income from scheduled carriage by 560 million crowns (”18.2m) year-on-year.
”The OK 2006-2008 Revitalisation Strategy is closing in on its target date, and the latest financial results indicate that we are on the right track.”
For more information, visit www.czechairlines.co.uk.
Stanley Slaughter
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