Final Word from Monday, October 9, 2017

Not even Jaroslav Tvrdík probably knew when he ran ČSA into the ground that he would be returning to the scene of the crime 11 years later. If all goes according to plan, Travel Service will boost its 34.0% stake to 97.8%, and CEFC China, which Tvrdík now represents, will have 48.8% of what will still nominally be called Czech Airlines. ČSA is only a shell of what it was when Tvrdík took over in 2003. Any other new owner would want to go back and review what happened to all the assets, if for no other reason than to beware of current and future business partners. Tvrdík has a conflict of interest, though, because he would be investigating himself on behalf of the near-majority Chinese co-owners. If, of course, the near-majority co-owners of Travel Service are in fact Chinese. Wouldn't it be a cruel twist of fate if the real owners Tvrdík is representing behind the facade of CEFC were Czech byznysmeni who were involved all those years in stripping away ČSA's assets? [Czech Republic Energy ČSSD a.s.]

Glossary of difficult words

to run something into the ground - to ruin something;

shell - an outer form without substance;

to beware - to be cautious and alert to risks or dangers;

twist of fate - a fateful event; an unanticipated change in a sequence of events.

PDF Archive

«October 2017»

Choose the year


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