Another calamity in the European skies might be on the way as Czech Airlines has notified the authorities that it intends to layoff up to 430 employees.
This official notice, a legal requirement in the Czech Republic, would mean that the entire workforce of OK is in limbo if management elects to exercise this option. As reported by AeroTelegraph, it would mean that the airline could part ways with their employees when the time comes, and the company’s economic situation requires this step.
It’s not a guarantee that the layoffs will in fact be forthcoming but it’s a very viable possibility.
OK is under bankruptcy protection since last September, a process that will come to an end this week on February 28th, and this means the carrier could falter.
Czech Airlines is one of the few carriers in Europe that has not received any state aid. The majority owner Smartwings has previously rejected offers of cash infusion from the government who in exchange wanted a stake in airline.
Czech Airlines is a relatively small carrier but nevertheless would be yet another airline out of the skies should there be a total bankruptcy and grounding. Management has so far maintained that they don’t intend to stop operating.