Czech Airlines (CSA), a state-owned national carrier awaiting privatization next year, recorded a loss of 444 million koruny (27.8 million dollars) in January-April of 2008, the company said Thursday, according to dpa. The airline said the loss during the first four months of the year, a low season in air travel marked by high fuel prices, was better than the anticipated loss of 453 million koruny. The revenues reached 6.66 billion koruny in January-April 2008, up nearly 2 per cent from the same period the previous year, the carrier said. CSA expects to end this year with a net profit of 391 million koruny, including proceeds from a catering unit sale to Autogrill- owned Alpha Overseas Holding finalized earlier this year. The airline also revised its 2007 net profit from 111 million koruny to 207 million koruny (12.96 million dollars), the result of a tax refund. In 2007, the carrier was back in the black after two years in the red. The firm plunged into losses in 2005 under the management of then former Social Democratic Defence Minister Jaroslav Tvrdik. In a bid to get back in shape, the airline shed several of its units. The firm now expects to gradually raise its annual net profit to 1 billion koruny (62.6 million dollars) by 2013, covering with it accumulated losses. The carrier said it plans to cut costs and boost effectivity as well as modernize its 50-aircraft fleet by using its option to buy eight new A320 planes by 2012. The airline wants to maintain its 50-per-cent share in full- service air travel and grab a 20-per-cent share among low-costs at Prague's international Ruzyne airport. The centre-right government of Prime Minister Mirek Topolanek plans to sell CSA next year. Analysts estimate the carrier's price at 5 billion koruny.
