Czech Airlines become member of global airline alliance Sky Team effective March 25. Sky Team was founded last June by Air France, Delta Airlines, Aero Mexico a Korean Air. Sky Team offers more than 7000 flights every day to 451 destinations in 98 countries. Sky Team served 177m passengers in 2000. ČSA brought 2.5m clients to 61 destinations (47 in Europe) last year. Owing to the Sky Team membership, Prague is going to become an important transit point for customers of the Sky Team. ČSA passengers will get access to 743 offices and 289 lounges of the Alliance across the world. All information concerning ČSA reservations, departures and arrivals will be published on www.skyteam.com.
The Czech government invited Český Telecom to become his exclusive negotiating partner in the case of a multi-billion crown deal to build and operate a telecom infrastructure network for public administration. Transport and Communications Minister Jaromír Schling said that the cabinet should approve a five-year contract with Český Telecom by mid-May. Český Telecom is a majority state-owned company earmarked for privatization by the end of this year. Mr. Schling noted the deal would be worth billions of crowns annually. Český Telecom recently announced two large contracts concluded with Škoda Auto and the public Czech Television.
The agency Odien working for Czech government announced it has short-listed four investors interested in buying troubled truck maker Tatra. Binding bids have to be submitted by the mid-June at the latest. Odien refused to publish investors´ names until the government makes final selection in July or September, but said it considered all candidates to be strategic investors. According to local rumors, Sweden's Volvo can be among the top four.
The Czech crown closed quiet local trading flat against the euro on Wednesday evening but – hand in hand with a drop of European currency against the dollar - lost 1 CZK against USD during the day. Traders saw a range of 34.50-70 CZK/EUR in the near term, with little changes following 2000Q4 GDP and February trade data to be published Thursday morning. The market expects a 2.38 % year-on-year fourth quarter GDP growth, according to a Reuters poll. The trade figures are expected to show a CZK 10.1bn deficit.
Bonds slightly firmed on March 20. The longest state 6.95/16 went up 15 basis points to 103.70/00, yielding 6.55/52. State 6.75/05 rose 13 points to 103.42/72, yielding 5.74/65.
| late March 21 | bond yield | late March 20 |
| CZK/EUR | 34.54/57 | - | 34.54/57 |
| CZK/USD | 38.50/51 | - | 38.25/26 |
| State 6.75/05 | 103.42/72 | 5.74/65 | 103.29/59 |
| State 6.95/16 | 103.70/00 | 6.55/52 | 103.55/85 |
(Martin Kupka)