Czech Railways has two years, writes daily Mladá fronta Dnes, to adapt long-term strategies to ensure continued profits and growth. Until now, the state-owned firm relied heavy on the sale of property as a financial buffer but that "well" will soon run dry at a time when debts at the firm are on a rise.
Czech Railways is back in the black showing a profit of 158 million crowns at the end of the second quarter, the ctk news agency reports. The profit was generated mainly by revenues from passenger transport and cost-cutting measures in the areas of marketing and legal services. Freight transport showed a profit of 540 million.
Czech Railways has announced that the rail connection between the towns of Hradec Kralove and Pardubice will be out of operation for the next ten days due to maintenance. Passengers are being asked to use a replacement bus service. More information is available to Czech Railways website and its information offices.
Over 1,500 Harley-Davidson motorcycles roared through Prague on Saturday at the start of Prague Harley Days, a two-day get together of Harley owners and fans. The gathering which is expected to attract around 10,000 people, includes side events such as an exhibition of Harley veterans, demo-rides and a concert. Visitors will also be able to admire the newest Harley motorcycles – Rushmoore 2015 and Street 750.
State company Český Aeroholding plans to use almost CZK 38 million in incentives to support a proposed direct air route between the Czech Republic and China, a Czech Ministry of Transport spokesperson said after a meeting of Czech and Chinese officials on Wednesday. A condition for any airline that expresses interest in the route is a commitment to four flights a week for a period of at least five years. The City of Prague and Czech Tourism also plan incentives for a route that would increase the number of Chinese visitors.
Up to 38 million crowns in incentives will be used in order to promote a direct air connection between Prague and China, Tomáš Neřold, spokesman for the Ministry of Transport told the Czech News Agency (Č TK) on Wednesday. The announcement came after a meeting between the ministers of transport from both of the respective countries and representatives of Czech Aeroholding, a state owned air transport group which includes Czech Airlines.
The body of its German pilot was found in the wreck of a small plane near Modrava in South Bohemia at lunchtime on Sunday. German and Czech police had been looking for the aircraft since it went missing on Saturday evening. A Czech police helicopter spotted the plane in a forested area in the Šumava. The pilot, aged 38, had been flying from Passau in Bavaria.
In Business News this week: Mining group NWR comes up with better than expected results but crunch meeting over restructuring still looms; tax offices are getting tough over dubious breaks for research and innovation; |Slovak government jumps in over Slovenské Elektrárne sale; Swiss developer plots arbitration over Prague land purchase; and Czech Railway showcase service could hit rails.
Prague has recently become the latest city where the smart-phone based car-hailing service Uber has become available. Since its launch in San Francisco in 2009, the app has become popular around the world. However, in many cities, the company faces protests by disgruntled taxi drivers as well as official bans over safety concerns. I sat down with Uber’s head of expansion for central Europe Patrick Studener, and first asked him why they picked Prague as their first location in the region.
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Czechs observe day of mourning for pop idol Karel Gott
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Thousands pay tribute to deceased national pop icon Karel Gott