The fifth oldest airline in the world, Czech Airlines, has been declared bankrupt in Prague last week. The airline is in debt to 266 creditors, mostly suppliers, and 230,000 passengers who are awaiting refunds for canceled flights. The total debts equal $82 million.
Czech Airlines (SA) declared bankrupt
The Municipal Court in Prague has declared the fifth oldest airline in the world, Czech Airlines, bankrupt. The future now looks acutely uncertain for this 98-year old Prague-based airline. The Municipal Courts Insolvency Register lists Czech Airlines as being in bankruptcy, with INSKOL being the insolvency administrator.
The Court has asked…
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