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98-year-old Czech airline goes bankrupt and fires all its employees Updated: 2021-02-26 04:32:46 KST

Moving on to another story on the aviation industry
The ongoing pandemic is close to claiming another airline industry fatality.
Czech Airlines one of the world's oldest airlines is going through bankruptcy.
The Prague-based airline has notified the Czech Republic’s Employment Office that it will lay off its entire workforce of some 430 people.
During the pandemic, its owner, Smartwing has seen a 90 percent drop in revenue.
Unlike most other countries that injected massive amounts of state aid into their flag carrier airlinesit did not receive any,as aid came with the condition of transfer of ownership to the state.
Founded in 1923, the company is likely to give up it's world's title as one of the world's five oldest airlines before reaching its 100th birthday in two years’ time.
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