Czech Airlines expecting to slash losses this year

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Czech Airlines is expecting to slash its full-year losses to Kc600 million ($28 million) as a result of its restructuring programme.

The airline has given the forecast following a general meeting of its shareholders.

Czech Airlines posted an operating loss of Kc3.5 billion last year and a loss after tax of more than Kc3.7 billion.

But president Miroslav Dvorak says the carrier is expecting a six-fold improvement to Kc600 million by the end of this year.

"I'm aware that it is a very ambitious goal but we are working very hard to meet it," he says.

Dvorak says the initial results of Czech Airlines' restructuring efforts are "already visible" and the carrier is "successfully continuing to restrain costs".