GRAHAM DUNN / LONDON
New CSA Czech Airlines boss Radomir Lasak has overhauled the carrier’s management structure and outlined a three-year turnaround plan designed to restore profitability at the SkyTeam carrier.
Turnaround and restructuring specialist Lasak took the helm in January and last week detailed organisational changes and the departure of several executives.
CSA slumped to a loss last year estimated at nearly Ckr500 million ($21.1 million) amid escalating fuel costs and strong competition.
Three months into the job, Lasak has abandoned CSA’s previous business plan, which ran from 2005-15, on the grounds it was not achievable and the starting figures unrealistic. In contrast to the heavy loss for 2005, the plan envisaged a Ckr522 million profit.
The new plan aims to stabilise losses and by 2008 establish the carrier on a path towards long-term profitability. A new organisational and management structure includes the splitting of the marketing and sales division into two.
Source: Flight International
