East Europe Airlines Shrivel as Funding Ebbs And Buyers Flee

For Prague-based public relations consultant Joe Cook, just finding a flight may prove to be the toughest part of a business trip to Bulgaria later this month.

With Czech Airlines AS cutting services to Sofia, Cook must travel via Vienna or Munich at twice the time and cost. It’s the same story for journeys around much of eastern Europe as curbs in state spending and a dearth of investors among larger carriers forces government-owned operators to downsize networks.