The French translations.

2[B,C],3[A,BC,D](1/4) 
As CSA faces 
While CSA goes through 
While CSA Goes Through 
Even Though CSA Is Experiencing 

2[AB,D],3[ABD,C](2/4)	
serious difficulties,
serious difficulties, 
Serious Financial Problems, 
Severe Problems, 

2[ABC,D](3/4)	
the Czechs 
the Czechs 
the Czechs 
The Czechs 

2[A,D;B,C],3[AD,BC](1/4) 
offer 
propose
Propose 
Are Offering 

2[A,B,C],3[ABC,D](1/4)	 
to buy back 
to repurchase
to Buy Back 
to Buy Out 

2[A,B,C],3[ABC,D](1/4) 
the French shares 
the French share 
the French Share 
the French-Held Interest 

2[A,B,CD](2/4) 
in their national airline
in their national airline company
in Their National Airline
in Their National Airline

2[AC,B,D](2/4) 
The Czech Minister of Transportation, 
The Czech Minister of Transport, 
The Czech Minister of Transportation, 
the Czech Transport Minister, 

(4/4)	
Jan Strasky, 
Jan Strasky, 
Jan Strasky,
Jan Strasky, 

2[AC,B,D](2/4) 
proposed on Saturday, January 8 
proposed Saturday, January 8, 
proposed on Saturday, January 8, 
On Saturday, January 8, proposed

2[AB,C,D](2/4) 
that the State 
that the State 
that the government 
that the Government 

2[A,B,C],3[ABC,D](1/4)	
buy back the shares 
repurchase the shares 
buy back the stock 
buy out the shares 

2[BC,A,D](2/4) 
(just less than 20%) 
(a little less than 20%) 
(a little less than 20%) 
(slightly less than 20%) 

(4/4)	
held by Air France 
held by Air France 
held by Air France
held by Air France 

3[A,B,C,D](1/4) 
and the Reserve Bank/deposit accounts 
and the Caisse des dèpôts (Reserve Bank) 
and the Deposit Fund 
and the Caisse des Dépôts 

2[A,B,C,D](1/4) 
in the national airline, CSA, 
in the national airline company, CSA, 
in the national airline CSA, 
in CSA, the Czech National Airline, 

3[A,BD,C](2/4) 
so that they could be sold 
in order to resell them
with a view to reselling it 
in order to resell them

3[AD,B,C](2/4) 
"to another partner, probably a bank."
"to another partner, probably the bank."
"to another investor, probably a bank."
"to another partner, probably a bank."

2(ABD,C)(3/4)	
Since mid-1992, 
Since mid-1992, 
Since mid-1992 
Since mid-1992, 

(4/4)	
Air France and 
Air France and 
Air France and
Air France and 

2[B,D],3[A,BD,C](1/4)	
the Reserve Bank, 
the Caisse des dèpôts 
the Deposit Fund, 
the Caisse des Dépôts 

2[ABD,C](3/4) 
on the one hand, 
on the one hand, 
on the one side, 
on the one hand,

2[ACD,B](3/4) 
and the European Development Bank 
and the European Bank for Reconstruction and Development 
and the European Development Bank 
and the European Development Bank 

2[BC,D],3[A,BCD](2/4)	
(Banque Européenne de Developpement - BERD), 
(EBRD) 
(EBRD)
(BERD), 

(4/4)	
on the other, 
on the other,
on the other, 
on the other, 

2[AC,BD](2/4) 
hold 38.2% 
have held 38.2% 
hold 38.2%
have held 38.2% 

(4/4)	
of CSA's capital, 
of CSA's capital,
of CSA's capital, 
of CSA's capital, 

2[AB,C,D](3/4) 
the rest 
the rest 
with the rest 
the remainder 

2[A,B,C]3[ABC,D](1/4)	
being held by 
being in the hands of 
in the hands of 
being owned by 

(4/4)	
Czech interests, 
Czech interests,
Czech interests, 
Czech interests, 

2[BC,A],3[D](2/4)	
particularly by the 
particularly through
particularly through
in particular 

3[A,B,C,D](1/4) 
national endowment Fund. 
the National Heritage Fund.
the National Property Fund. 
the National Patrimony Fund. 

(4.4)	
This 38.2% 
This 38.2% 
This 38.2% 
This 38.2% 

2[BCD,A](3/4) 
represents 
represented
represented
represented 

3[AB,C,D](2/4)	
a contribution of $60 million, 
a contribution of $60 million, 
a capital contribution worth 60 million dollars, 
an investment of 60 million dollars, 

2[AB,CD](2/4) 
divided in equal parts 
divided in equal parts
divided equally 
divided equally 

(4/4)	
between the French 
between the French 
between the French 
between the French

2[AD,BC](2/4) 
and the BERD. 
and the EBRD.
and the EBRD.
and the BERD. 

(4/4)	
Air France's investment 
Air France's investment 
Air France's investment 
Air France's investment 

2[B,C],3[A,BC,D](1/4)	
only represents $18 million, 
alone represented $18 million dollars 
alone represented 18 million dollars,
by itself amounted to 18 million dollars, 

2[A,B,C,D](1/4) 
$15 million of which are 
of which $15 million were 
15 million of which was
15 million of which 

2[ABC,D](3/4) 
in the form of 
in the form of 
in the form of 
took the form of

2[A,B,C,D](1/4) 
services rendered, 
services rendered;
services provided, 
services performed, 

2[BC]3[A,BC,D](2/4)	
those of its partner, 
that of its financial partner, 
and that of its financial partner, 
the investment made by its financial partner, 

2[B,D]3[A,C,BD](1/4)	 
the Reserve Bank, 
the Caisse des dèpôts, 
the Deposit Fund,
the Caisse des Dépôts,

2[A,B,C,D](1/4) 
then totaling $12 million.
was, therefore, $12 million.
was therefore 12 million dollars.
thus amounting to 12 million dollars.

2[AB,C,D](2/4) 
Since, Air France 
Since, Air France 
Since then, Air France 
Since that time, Air France 

2[AD,BC](2/4) 
and the BERD 
and the EBRD
and the EBRD 
and the BERD 

3[A,B,C,D](1/4) 
requested an expert accountant 
commissioned an expert accounts appraisal 
ordered an audit 
to conduct an audit, 

2[B,C],3(A,BC,D)(1/4) 
from the firm of Ernst and Jung, 
from the firm Ernst & Young,
from the firm of Ernst and Young, 
have instructed the accounting firm of Ernst and Jung

2[A,B;C,D],3[AB,CD](1/4) 
who concluded that 
who concluded that there was 
which concluded 
which concluded that

2[A,D],3[AD,B,C](1/4)	
CSA had been overvalued 
an overevaluation by CSA 
in an over-valuation of CSA 
CSA was over-valued 

2[A,B,C,D](1/4) 
by $26 million 
of $26 million 
by 26 million dollars 
by 26 millions dollars 

(4/4)	
(148 million francs). 
(148 million francs).
(148 million francs). 
(148 million francs). 

2[BC,A],3[ABC,D](2/4) 
The study led them 
This study led them 
This study led them 
This study prompted them

2[ABD,C](3/4) 
to ask the Czech government 
to ask the Czech government 
to request that the Czech government 
to ask the Czech government 

2[ABD,C](3/4) 
to recapitalize CSA 
to recapitalize CSA
recapitalize CSA 
to recapitalize CSA 

2[AB,C]3[D](2/4)	
at this level. 
at this level. 
to that level. 
by that same amount. 

2[AD,BC](2/4) 
However, the government 
But the government 
But the government 
However, the government 

3[A,B,C,D](1/4)	
was then planning 
was intending at that time 
would then propose 
reportedly then sought 

2[AB,C,D](2/4) 
to modify certain rules 
to modify certain rules
to change certain rules 
to modify some of the rules 

3[ACD,B](3/4) 
of the game 
regarding the functioning 
of the game
of the game 

2[A,C,D],3[ACD,B](1/4)	
of the airline's operation.
of the airline company.
in the airline's operations.
governing the airline's operations.

2[ABC,D](3/4) 
CSA is going through 
CSA is going through 
CSA is going through 
CSA is experiencing 

2[AB,C,D](2/4) 
serious financial difficulties 
serious financial difficulties 
serious financial problems 
severe financial difficulties 

(4/4) 
and has suffered 
and has suffered
and has suffered 
and has suffered 

2[ACD,B](3/4) 
significant losses 
heavy losses 
significant losses 
significant losses 

2[AC,B,D](2/4) 
in the past two years. 
these last two years. 
in the past two years. 
for the last two years.

2[B,D],3[A,BD,C](1/4) 
As such, it is in dire need 
It therefore has an urgent need 
It therefore needs 
It thus has urgent need

3[A,B,C,D](1/4) 
of fresh money. 
for ready cash. 
new money urgently. 
for new capital. 

2[AB,CD], 3[AB,CD](2/4) 
Notably, it has 
Notably, it has 
In particular, it has 
In particular, it has

3[ACD,B](3/4) 
renovated its fleet, 
recently renovated its fleet, 
renovated its fleet,
renovated its fleet, 

2[A,B,C,D](1/4) 
which consists of 
composed of 
made up of 
which had been composed of 

3[ABC,D](3/4) 
old Tupolev 134s, 
old Tupolev 134s, 
old Tupolev 134s, 
aging Tupolev 134s, 

2[A,B,C,D](1/4) 
financing 2 Airbus 310-300s, ...with leasing contracts
financing with leasing agreements two Airbus A-310-300s 
with two Airbus A-310-300s financed under a leasing contract 
by financing by leasing contracts two Airbus A-310-300s 

2[A,B,C],3[D](1/4) 
judged to be in unsatisfactory condition, 
in a condition deemed unsatisfactory, 
in what has been determined to be unsatisfactory condition, 
under terms judged to be disadvantageous, 

2[AC,BD](2/4) 
five Boeing 737-500s
five Boeing 737-500s, 
five Boeing 737-500s 
five Boeing 737-500s, 

(4/4) 
and four ATR 72s 
and four ATR 72s.
and four ATR 72s.
and four ATR 72s.

2[ACD,B](3/4) 
On Thursday, January 6, 
Thursday, January 6th, 
On Thursday, January 6, 
On Thursday, January 6, 

2[A,B;C,D],3[AB,CD](1/4)	
the General Director 
the general director 
the Managing Director 
the managing director 

2[ABC,D](3/4) 
of the Czech company, 
of the Czech company, 
of the Czech company, 
of the Czech firm, 

(4/4)	
Georges Vejdovsky, 
Georges Vejdovsky, 
Georges Vejdovsky, 
George Vejdovsky, 

2[AB,D],3[ABD,C](2/4) 
resigned during 
resigned during 
had resigned in
quit during

2[A,B,C,D](1/4) 
an extraordinary general assembly of the shareholders, 
an extraordinary general meeting of shareholders, 
an extraordinary general meeting of the shareholders,
an extraordinary general shareholders' meeting. 

3[A,BCD](1/4) 
which was held 
<missing>
<missing>
<missing>

3[A,B,C,D](1/4) 
because of the difference of opinion 
expressing the difference in views 
citing differences arising from his appointment 
His action marked the divergent views 

2[ABC]3[D](3/4) 
between Air France 
between Air France 
between Air France
of Air France 

2[AD,BC](2/4) 
and the Czech government 
and the Czech government. 
and the Czech government. 
and the Czech government 

3[A,B,C,D](1/4) 
regarding his nomination. 
at the beginning of his appointment 
(which had originally nominated him) 
at the time of his appointment. 

2[BCD,A](3/4) 
The next day, 
The following day, 
The following day, 
The following day, 

2[AC,B,D](2/4) 
the Minister of Transportation 
the minister of transport 
the Minister of Transportation 
the Transport Minister 

2[A,B,C,D](1/4) 
brought up the possibility of 
recalled the possibility of 
alluded to the possibility of 
suggested the possibility of 

3[AB,C,D](2/4) 
a repurchase of 
a repurchase of
a buy-out of 
purchasing 

3[BCD,A](3/4) 
Air France's contribution. 
Air France's interest. 
Air France's interest. 
Air France's interest. 

(4/4)	
According to him, the French
According to him, the French
According to him, the French
According to him, the French

3[A,B,C,D](1/4) 
will now demand compensation 
would ask in that case for a compensation 
would then request compensation 
would, in that case, demand compensation 

2[ABD,C](3/4) 
"at least equal to 
"at least equal to
at least equal to 
"at least equal to 

2[ABD,C](3/4) 
their original investment," 
their original investment," 
their original investment, 
their original investment," 

2[AB,C,D](2/4) 
or $30 million.
or $30 million.
or 30 million dollars.
i.e., 30 million dollars.