European Commission launched an investigation into a CZK2.5 billion ($131.7 million) loan to CSA Czech Airlines from state-owned firm Osinek in April 2009. Last October, the Czech government decided to free up the assets that secured the loan in order to allow CSA to use it as collateral to secure additional commercial loans "and continue in business," according to the EC
European Commission launched an investigation into a CZK2.5 billion ($131.7 million) loan to CSA Czech Airlines from state-owned firm Osinek in April 2009. Last October, the Czech government decided to free up the assets that secured the loan in order to allow CSA to use it as collateral to secure additional commercial loans "and continue in business," according to the EC (ATWOnline, Feb. 12). The Commission said that "it cannot exclude [that] the loan and its subsequent ...
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