New auto sales in the European Union fell by a record 76.3 percent year-on-year to 270,682 in April due to the coronavirus crisis, the European Automobile Manufacturers Association (ACEA) reports. Most EU car dealerships were closed throughout April as a result of anti-coronavirus measures. “The first full month of COVID-19-related restrictions has led to the […]
Air traffic at Prague Airport is slowly coming back online, with several European carriers resuming flights or announcing plans to do so. In April, the airport saw traffic plummet by 99.6 percent, handling only 5,031 passengers. By the end of the month, there were only two regular flights to Minsk and Sofia. The situation has […]
Hyundai Nosovice will begin production of the new Hyundai i30 model on Monday. “The Hyundai i30 has long been one of our most popular cars in Europe. This model for Europe is also of European origin in all respects, from design through development to final assembly,” Hyundai’s spokesman said. The new Hyundai i30 is the […]
Fresh off off his acquisition of a five percent stake in Macy’s, Daniel Kretinsky’s shopping spree continues with the purchase of shares in Foot Locker. Kretinsky’s Vesa Equity acquired a 6 percent stake in Foot Locker on May 7, according to a regulatory filing. The current market value of his shares in the retailer is […]
Auto production in the Czech Republic fell 31.1 percent year-on-year to 337,497 cars from January to April, the Automotive Industry Association said. Production dropped 88.5 percent in April to 14,589 vehicles due to coronavirus restrictions. Škoda Auto produced 218,374 cars, down 29.6 percent year-on-year, Hyundai in Nošovice reduced production by 35.3 percent to 65,890 vehicles, […]
Smartwings, the owner of Czech Airlines, said it is looking for state loans or guarantees but has no interest in the Czech government taking an equity stake in the company. Smartwings comments follow Industry and Trade Minister Karel Havlíček’s suggestion that the state could buy up to a 100 percent stake in the company. Prime […]
The automakers of the Visegrad Four countries are calling on the EU to postpone new regulatory requirements. These include the Euro 6 / IV emission standard, vehicle type-approval regulations, and CO2 limits. The automakers are seeking relief due to the impact of the coronavirus epidemic on the industry. The presidents of the Association of the […]
In the first quarter of this year, the Czech economy fell by 2.2 percent year-on-year, and by 3.6 percent quarter on quarter, the Czech Statistical Office reports. The decline is the greatest since the economic crisis in 2009. The results were significantly affected by the global coronavirus pandemic and the associated restrictive measures. Data on […]
PPF Telecom Group successfully placed a four year €500 million Eurobond. The Bond matures on 20 May 2024 and carries a fixed annual coupon at the rate of 3.5 percent. Investor interest was strong as the private order book oversubscribed by 2.2 times. “We are delighted by the interest that our investor calls raised despite […]