CSA had already been radically downsizing its fleet
CSA Czech Airlines says it will have to sack a third of all of its employees as part of emergency restructuring needed due to a drop in demand resulting from tensions between Ukraine and Russia. In total it will lay off 280 staff, including 70 pilots as well as flight attendants and office workers, out of a workforce of 900.
CSA had already been radically downsizing its fleet and selling assets to reverse losses since a failed expansion plan a decade ago. Its strategy to connect Western Europe to the former Soviet Union is now suffering from plummeting demand resulting from the Ukraine crisis.
The airline says it is grounding six Airbus A320s out of a fleet of 23 aircraft, starting this winter.
“The company decided to accelerate this step after a significant drop in reservations and passengers from the Russian Federation and other former Soviet Union countries in connection with the Ukrainian crisis,” CSA said in a statement.