Deloitte expands its European aviation fleet |
Contact: Michal Burian
Deloitte & Touche in CE
Regional Brand & Image Development Manager
+420 224 895 601
Prague, January 20, 2004 - Deloitte recently added Czech Airlines to its client portfolio, strengthening its unique position in European aviation market. Other airline clients in Deloitte's European fleet include also Air France, Alitalia, Austrian Airlines, Croatian Airlines, Hapag-Lloyd, Iberia, SAS and Turkish Airlines. Czech Airlines is a leading airline in Central Europe, carrying more than 3 million passengers a year and registering traffic revenue of over 435 million USD.
“The addition of Czech airlines to our audit portfolio shows that our focus on the problems and challenges of this sector has been correct,” says Pavel Stehlik, Deloitte regional industry leader. “The needs of aviation businesses are quite complex. Airlines face significant pressure to cut costs and are being pressed to change their business models. Beyond the traditional audit issues of taxation, licensing, and regulatory issues, the sector is vulnerable to everything from viruses to terrorism.”
While air traffic has quickly recovered from SARS and the Middle East turmoil, total losses for the airline sector are expected to hit $35 billion in the past three years. Not only are there direct physical threats to passengers, the basic business model for the sector is in flux as low cost airlines and competing travel modes challenge traditional assumptions about profitability and organization.
“It is a challenge to keep ahead of movements within the sector, either new competitors, fluctuating fuel prices, or noise concerns,” says Stehlik. “While traveling by air is certainly not new, the ways in which airlines are organized, financed, and regulated is changing. We are certainly not in a holding pattern.”
Deloitte is a leading provider of professional services to the transportation sector- air, truck, rail, water - around the globe.
“Deloitte's global footprint and ability to provide seamless service anywhere is a key skill,” says Stehlik. “While have local expertise is essential, the global nature of the business mandates that this dovetail with similar local expertise anywhere else on the planet.”
About Deloitte & Touche Central Europe
Deloitte & Touche Central Europe is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global and regional strategy executed locally in 16 countries in Central Europe. With access to the deep intellectual capital of 120,000 people worldwide including more than 2,000 in Central Europe, our member firms (including their affiliates) deliver services in four professional areas: audit, tax, consulting, and financial advisory services. Our member firms serve many of the region's largest companies, as well as large national enterprises, public institutions, and successful, fast-growing global growth companies.
Deloitte & Touche Central Europe is a member firm of Deloitte Touche Tohmatsu, a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein. For regulatory and other reasons certain member firms do not provide services in all four professional areas listed above.
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