Final Word from Thursday, May 22, 2014

HN mapped the rise and fall of ČSA and noted that the airline's passenger count has dropped by 48% from its peak in 2008, with a decline in assets as of the end of 2012 of about this same amount (-52%). During most of this period, Michal Mejstřík was the chairman of the airline's supervisory board or of the sup. board of its parent, Český Aeroholding. According to HN, he was in charge of saving the airline. It was sold to the Koreans for half the price of a Boeing engine. Mejstřík is also now a member of the sup. board of ČEZ and is rumored to be in line to take over the top spot on the body vacated by Martin Roman. Over the same 2008-2013 period, ČEZ increased its total assets by 16%, to Kč 549bn, despite its problems with foreign investments and its predilection for ceding power plants to Daniel Křetínský of EPH. Let's hope that over the next 5-6 years of Mejstřík supervision, ČEZ is able to avoid a ČSA-style rescue. [Czech Republic Hospodářské noviny EP Holding J&T PPF]

Glossary of difficult words

passenger count - the number of passengers served during a specified period;

to be in line for (a position) - to be a candidate for, to be in the running for;

predilection - a preference or special liking for something; a bias in favor of something;

to cede - to give up (power or territory).


Tel: 420 224 221 580

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic



FS Final Word