European Commission Plans to Approve CSA Overhaul, CTK Reports

Sept. 18 (Bloomberg) -- The European Commission plans to approve an overhaul of unprofitable Czech state airline Ceske Aerolinie AS, including a 2.5 billion-koruna loan ($131 million) from state company Osinek, CTK reported, citing unnamed people familiar with the matter.

The government merged the carrier with Letiste Praha AS, Prague’s international airport, in a bid to overhaul the airline after an attempt to sell it failed in 2009.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net