CSA Czech Airlines posted a 2008 pre-tax profit of CZK500 million ($23.6 million), compared to a CZK111 million profit in 2007. It said pre-tax earnings under IFRS came to $550,000, reversed from an $8.8 million loss on a similar basis the prior year. It said fuel and currency hedges were the difference and that absent those its fuel expense would have increased by CZK1.2 billion. However, falling demand in the second half of last year cost approximately CZK400 million in lost revenue. ...

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