Supervisory board of troubled Czech Airlines to be removed on Monday

13-09-2009

The entire supervisory board of the troubled Czech Airlines will be removed at a CSA annual meeting on Monday, the minister of finance, Eduard Janota, said on a TV debate programme on Sunday. Two members of the supervisory board stepped down voluntarily on Friday. Mr Janota also said he would hold meetings on Monday with union leaders from CSA. They have refused to accept pay cuts proposed by the management of the airline, which is in serious trouble after recording record losses in the first half of this year. The government is set to decide next month on whether to accept a bid from the only company remaining in a tender to privatise CSA. Minister Janota has said if the sell-off does not go ahead, the state would be unwilling to bail out the airline should it go bankrupt.