The Czech Republic’s national carrier Czech Airlines is no longer a state-owned company. This week, its majority stake has moved into the hands of private companies. Travel Service company, a member of Unimex Group, announced on Tuesday that it has finalised a purchase of 34 percent of the Czech air carrier after action on the purchase option offered by Korean Air. It therefore becomes Czech Airline’s second largest shareholder.
The Czech Republic’s biggest tobacco company, employing around 1,000 at its main plant at Kutná Hora, upped its sales and profits for 2014. But its share on its Czech home market continued to slide under competition from cheap rivals and bootleg sales while it enjoyed greater success and a rising share of smokers in Slovakia.
The government agency CzechInvest concluded 147 projects in 2014 - worth 87 billion crowns - with both Czech and foreign investors in 2014. Company representatives made the announcement on Tuesday, specifying a total of 16,000 new jobs would be created, with more than 6,000 in Moravia-Silesia and Ústí alone - regions often suffering from high unemployment.
Kvasiny, one of Skoda’s three production facilities in the Czech Republic is to undergo a major expansion- the biggest in its 81-year old history. Underlining the significance of the plant’s presence in the region, the Czech government has promised a two billion crown injection to support the transformation.