Press Release
CSA’s Q1 Results Came in Half a Billion Crowns Ahead of Plan
Prague, 24 May 2007
In the first quarter of this year, Czech Airlines (CSA) reported a loss of CZK 122
million, according to Czech Accounting Standards, a result more than half a billion
crowns better than had been planned. The operating results improved by more than
CZK 500M y/y.
“Thanks to a successful first quarter, CSA is not entering the high season ‘in a hole’, for the
first time in several years. In terms of revenue, the first three months are problematic for all
airlines. In that time-period, we achieved better revenue and greater cost savings than
planned,” said CSA’s President Radomír Lašák, in commenting on the quarterly results.
The first quarter of this year saw a continuation of the growth in revenue from the second half
of last year. In the first three months of the year, the Airline reported operating revenues of
CZK 4.6 billion, which means a year-on-year improvement of nearly CZK 300 million. In
particular, revenue from carriage increased, reaching CZK 4.2 bn. At the same time,
operating expenses dropped by more than CZK 250 million, to CZK 5.1 bn. Financial results
were also helped by the implementation of the planned sale and leaseback of five Boeing
737 aircraft in February 2007.
Revenue from carriage grew primarily due to the higher numbers of passengers carried on
routes to Germany, Scandinavia, Romania, Spain, and Belgium. In the first three months,
CSA carried a total of 1.06 million passengers, which constitutes a 5.2% increase compared
to the same period last year.
In March alone, CSA reported a profit of CZK 13 million; in March of 2005, the Airline had a
loss of CZK 166 million.
According to the international accounting standards by which most airlines publish their
results, CSA reported a loss of USD 33.2 million before tax in Q1. Revenue from air carriage
increased by 11 percent y/y, to USD 221 million.
Daniela Hupáková
CSA Spokesperson
*****
Czech Airlines (CSA) – the largest national carrier of the new EU member countries according to the number of
passengers carried. In 2006, the airline carried a record 5.5 million passengers. Since 2001, it has been a
member of SkyTeam, one of the leading global airline alliances.
CSA currently offers connections to 104
destinations in 44 countries worldwide. The fleet contains 50 aircraft – ATR 42’s/72’s, Boeing 737’s and Airbus
A310/A320/A321’s.
In 2006, CSA ranked second in on-time flight performance among the 26 member airlines of the Association of
European Airlines (AEA).
For the last four years, CSA has been selected as the “Best Airline Based in Central/Eastern Europe - 2004,
2005, 2006 and 2007”. This title is awarded annually by the Official Airline Guide (OAG) and is based on the
votes of frequent business travellers.
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Press Release
In January 2006, Czech Airlines also won the “Best Airline in Eastern Europe” Award (the Annual GT Tested
Awards) for a second year running. CSA was also on the shortlist of the eight best world airlines in 2005.
CONTACT: [email protected]; Czech Airlines, Ruzyně Airport, PRAGUE 6, tel.: 220 11 6220,
www.czechairlines.com
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