Prague Airport significantly increases value before sell-off with purchase of land for runway

Prague Airport has paid over CZK 4 billion for land on which it plans to build a new runway, a spokesperson said. The operators of Ruzyně airport bought nearly 80 hectares from around 20 different owners, significantly adding to the value of the state-owned company ahead of a planned sell-off. Analysts quoted by the Czech News Agency said Prague Airport could now be worth CZK 26 billion more to a potential buyer than if it had not bought the land. The government had been hoping to raise more than CZK 100 billion through the privatisation, though expectations have been revised downwards because of the global financial crisis. Meanwhile, a spokesperson said Prague Airport would likely handle 12.65 million passengers this year, a record number.

Author: Ian Willoughby