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Business NewsBusiness News

09-12-2011 16:20 | Christian Falvey

Economy grows by 1.2% in 3Q; criminal liability for companies passes parliament; fifty billion crowns in deals for Czech and Russian businesses; inflation accelerates to 2.5%; construction continues decline. More

Current AffairsStruggling Czech Airlines to dismiss one-third of pilots

06-12-2011 15:54 | Jan Velinger

The struggling state-owned carrier Czech Airlines announced on Monday it will a dismiss a third of its pilots as part of restructuring plans, with some receiving their pink slips as early as this week. According to the firm, up to 100 pilots will be let go, although, the company suggests the cloud may have a silver lining: the possibility of further employment with subsidiary company Holidays Czech Airlines. The catch is that working for the subsidiary will be nowhere near as lucrative, offering significantly lower salaries. More

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