Working with EY Transaction Advisory, Prague Airport, a joint stock company, has started the process of seeking a strategic partner for its subsidiary of Czech Airlines Technics, a joint stock company (CSAT). The primary goal is to increase the competitiveness of the CSAT company and ensure its attractiveness for customers.
“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, stated, adding: “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 company’s sole shareholder became Český Aeroholding, a.s. and since October 2018, as a result of a national merger by acquisition, its sole shareholder has been Prague Airport, a joint stock company. Czech Airlines Technics, the former technical department of the Czech national carrier, has almost a century-long history and experience with hangar maintenance of aircraft, especially with the maintenance of jet aircraft of various manufacturers and aircraft equipment. The company employs over 600 qualified technicians, engineers, and administrative staff and guarantees the high quality of the services provided and the work performed, with an emphasis on strict compliance with safety standards.