Financial issues at CSA: 2 ATR72s seized

Czech media is reporting that the owner of CSA, the Smartwings Group, has asked the government for an immediate injection of more than 50 million euros to prevent the company from collapsing. The financial difficulties seem especially severe at CSA, of which two ATR72-500s (OK-NFU and -NFV) have been seized over the weekend.

Smartwings has told the government it needs decision before the end of this month as some loans are due then. Without the infusion of new money, the group faces collapse. So far, the government hasn't taken any action to support the aviation industry in Czechia, which has also lead to the refusal of financial support by SmartWings minority shareholder (49,9%) CITIC Group from China.

The seizure of the two ATRs has been initiated by Czech Airlines Technics (CSAT), a former subsidiary of CSA, due to outstanding debts after maintenance. Both ATRs are, however, not owned by CSA but leased from Nordic Aviation Capital. CSA has three more ATR72-500s which are leased from the ASL Aviation Group, but these have been stored since last year. Next to the ATRs, CSA's fleet consists of one A319 and one A320.

Smartwings itself has an all Boeing B737-fleet, which is made up of two B737-700s, 27 B737-800s (nineteen parked), two B737-900ERs and seven B737-8s (all parked).

Photo by Anton Homma.