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Czech Airlines has turned its catering and cargo operations into subsidiary companies in anticipation of sale of both operations sometime in the second quarter of this year. The new companies are called Air Cargo Termina and Air Czech Catering. The airline’s management earlier this year approved the action. The carrier is now in search of bidders for the operation. Czech Airlines is also drafting a final privatization plan that could be in place by the end of the year. The two subsidiaries employ 540 people, which is about 11 percent of the airline’s workforce. Czech Airlines posted a loss of CZK 397 million in 2006 and has been on an extended effort to cut costs and turn around operations.
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