Travel Service Group placed two of its executives, CFO Petr Kudela and Head of Smartwings Radek Muller, on the Board of Directors of subsidiary Czech Airlines (CSA). They will replace CEO Sincak Joseph and CFO Joseph Adam, who are resigning from CSA.
A new chairman will also be elected by the new board, with vice chairman, Martin Stolba, staying on after the transition.
The Travel Service Group also changed its name to the Smartwings Group, as part of the reorganization. Travel Service will continue to operate aircraft for Smartwings. In addition, the Group will continue to develop the CSA brand.
"Our goal is to develop scheduled air services under the brands Smartwings and CSA and we will strive to ensure that both these brands have been the obvious choice for customers not only in this country but also in other European countries where we operate," said board member Roman Vik. The rebranding is set to occur by the end of 2018.
"These steps are consistent with the fulfillment of a long-term strategy to become a strong and stable European airline. To this end, the Group will implement the modernization of the fleet, add more bases and open new routes. We believe that the unified management and coordination of group members will lead to a stronger position in the aviation market," said chairman Travel Service George Simane.