Prague Airport seeks Czech Airlines Technics strategic partner
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Working with EY Transaction Advisory, Prague Airport, a joint inventory firm, has began the method of looking for a strategic partner for its subsidiary of Czech Airlines Technics, a joint inventory firm (CSAT). The main purpose is to extend the competitiveness of the CSAT firm and guarantee its attractiveness for purchasers.
“The process will start with reaching out to potential partners who are also active in the field of aviation repair and maintenance. Several rounds of negotiations will follow, narrowing down the number of potential partners and selecting the most suitable one. We plan to have the process, while closely cooperating with our sole shareholder, concluded in the first half of next year,” Jiří Pos, Chairman of the Prague Airport Board of Directors, said, including: “Fostering the optimal form of partnership, the degree of future synergies with Prague Airport, and the plan of development activities will be an essential part of the evaluation of the offers received.”
Czech Airlines Technics was established on 1 August 2010 as a subsidiary of Czech Airlines. In April 2012, the corporate’s sole shareholder grew to become Český Aeroholding, a.s. and since October 2018, on account of a nationwide merger by acquisition, its sole shareholder has been Prague Airport, a joint inventory firm. Czech Airlines Technics, the previous technical division of the Czech nationwide service, has nearly a century-long historical past and expertise with hangar upkeep of plane, particularly with the upkeep of jet plane of assorted producers and plane gear. The firm employs over 600 certified technicians, engineers, and administrative employees and ensures the prime quality of the providers supplied and the work carried out, with an emphasis on strict compliance with security requirements.
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