Czech entities ready for possible sale

10th Apr 2007

Two new subsidiary companies of Czech Airlines (CSA) were registered with the Czech Commercial Registry in early April. The first of the newly established companies is Air Cargo Terminal a.s., which is the operator of the recently built cargo terminal at Prague’s airport and which is in charge of general air cargo handling services. The second of the companies is Air Czech Catering a.s., which has taken over all of CSA’s catering functions. Both companies are 100% owned by Czech Airlines. 

The establishment of the new subsidiary entities was approved in January at a special shareholders’ meeting and the decision was the first step in the planned sale of both companies. CSA however only intends to sell the companies if the sale would be advantageous to the airline.

Czech Airlines has retained the cargo handling operations for its own aircraft, which will allow the carrier to continue to offer its own cargo carrying services. CSA Cargo will therefore continue to be operated as a strategic business unit of the airline, offering air cargo services for the shipping of goods and mail. The new subsidiary, Air Cargo Terminal, will be in charge of the clearance of the goods and all other handling services.

As of April 1st, 534 CSA employees were transferred to the newly established subsidiaries. As of the same date, the Czech Civil Aviation Authority issued a permit to provide handling and ground services at Prague’s Ruzyn? Airport to the new subsidiaries.

Vladim’r Perný became the Director and Chairman of the Board of the newly set up subsidiary Air Cargo Terminal. Before April 2007, he worked as the head of CSA Cargo. Jan Grabmüller, who previously held a position as a sales manager, will become the new head of CSA Cargo, which is a standalone sales unit of Czech Airlines. Franti?ek ?ev?’k became the Director and Chairman of the Board of the new subsidiary Air Czech Catering. He previously worked as the Executive Director of CSA’s onboard services unit.



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