Europe

Czech Airlines reports operating profit of nearly CZK 50 million for the first half of 2016

Czech Airlines A330
Czech Airlines

Based on unaudited financial statements, Czech Airlines has achieved an operating profit of CZK 47.3 million during the first half of the year.

During the same period of 2015, the company recorded an operating loss of CZK 154.1 million. The total profit of Czech Airlines for the first six months of the year equals CZK 72.4 million.

Czech Airlines continued last year’s economic trend when, based on audited financial statements, it achieved a total profit of CZK 223.4 million.

“Despite the security issues experienced in Europe and continued competitive pressure on ticket prices, we achieved the best profit record in the last ten years during the first half of 2016. Czech Airlines’ profit during the first six months of the year resulted primarily from the better use of our fleet, with a year-on-year increase of 17%, and from an increased number of transported passengers by 12%. We continue to profit from the results of the company restructuring process and are able to control operating costs. In addition, we are now able to benefit from the sales of complementary services,” Jozef Sinčák, Chairman of the Czech Airlines Board of Directors, said, adding: “Our well managed project in Saudi Arabia, where we operate flights for the Saudia air carrier using two of our Airbus A319 aircraft, is another factor contributing to the positive operating profit achieved.”

This year, Czech Airlines plans to achieve an operating profit of CZK 180 million.

Czech Airlines Transport Results for the First Half of 2016:

In the first six months of this year, Czech Airlines transported aboard its flights a total of 1.01 million passengers, which represents a year-on-year growth of 12% as the carrier serviced a total of 903 thousand passengers during the same period of the previous year. More than 200 thousand additional passengers were transported by Czech Airlines for other air carriers to whom the company leases its aircraft. The number of Available Seat Kilometres (ASK) has grown year-on-year by 8%, while the average load factor remained unchanged, i.e. at 70%.

In the 2016 summer season, Czech Airlines operates regular scheduled connections to 47 destinations in 24 countries worldwide. This year, Czech Airlines has launched operations on 11 new routes – to Helsinki, Birmingham, Pisa, Zagreb, Skopje, Odessa, Kazan, Ufa as well as to Malta, Beirut and Riyadh.

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