Czech Airlines reports first annual profit in years, hiring new staff

Czech flag carrier stabilized its economy in 2015. As a sign of better economic results, both pilots and flight attendants are being hired to cover an increase in planned operating performance.

Airbus A330 of Czech Airlines, picture by Sefjo, used under licence CC BY-SA 3.0

Airbus A330 of Czech Airlines | Photo courtesy of Sefjo, CC BY-SA 3.0

Czech Airlines are looking for flight attendants and pilots in its new recruitment campaign. In the first significant employee intake in six years, the company is looking for tens of cabin crew staff and several ATR and Airbus A320 pilots with a prospect of an increase in activities during the upcoming summer season and next winter season. Currently, 358 employees work as a cabin crew for Czech Airlines.

Up to 2014, core-business cash flow was negative for almost ten years. The company was forced to reduce its fleet, sack thousands of employees and to sell most of its assets. Although the final report is still not available, it seems that in 2015, Czech Airlines were able to stabilize its economy and to generate the core business profit again in 2015. Several important parameters shown a significant improvement including one of the most important one – Revenue per Available Seat-Kilometer (RASK) which increased by 11 % for Czech Airlines.

Among factors which help the company to achieve this is an extensive cost-saving program, low oil prices or continuing economic growth in the region. European Airline Association states that in 2015, industry increased by 4.3 % based on the association members data. For three-quarters of 2015, Czech Airlines made a profit of 374 million of Czech Crowns (including the sale of three Boeing 737 aircraft for 108 million).

With uninterrupted continuity going back to 1923, Czech Airlines belongs among world´s oldest airliners still in business. The Company’s long and distinguished history has many successes like starting jet services as a second airline in the world on the Prague-Moscow route in 1957. Czech Airlines operated this route as jet-only and it even made them the first airline in the world to do so.

Currently, Czech Airlines are owned by Korean Air (44 %), Czech charter airline Travel Service (34 %) and representative of the state – Czech Aeroholding Group (20 %).