CSA unveils new business plan

CSA has unveiled a new business plan in order to return back from insolvency. The airline has reached an agreement with debt owners, including Airbus, and will get additional funding from its new owner. The new owner is Prague City Air, a new company founded by the owners of Smartwings. With this move, Smartwings-minority owner CITIC is not part of CSA's ownership anymore.

Currently, CSA is operating a fleet consisting of a single A319 and a single A320. Next year, the airline wants to expand the fleet with five aircraft coming from Smartwings as an interim until it secured the leases of four new A220-300s.

CSA previously held an order for three A321LRs and four A220-300s directly with Airbus but was forced to cancel this order in July last year due to the airline's insolvency. As a result, Airbus planned to sue the national airline for 800 million USD compensation but this claim has now been resolved with this new business plan.

Photo by CSA.