11. 03. 2011 - Český aeroholding was entered in the Commercial Register

14 March 2011

On Friday, 11 March, the joint-stock company Český aeroholding was entered in the Commercial Register, which became possible once the Minister of Finance signed the Deed of Establishment on 10 February 2011. On the eve of the formal act (10 March), Miroslav Dvořák, Chairman of both the Management Board of Czech Airlines and the Management Board of Letiště Praha (Prague Airport), sent a letter of resignation to the Supervisory Boards of the two companies. In it, he resigned from the statutory position of member of both Management Boards, ending the interim period in which he served as Chairman of both of these statutory bodies.

Also resigning together with Miroslav Dvořák were other current members of the Management Boards of Prague Airport and Czech Airlines: Petr Vlasák (the present Vice Chairman of the Management Board of Prague Airport), Marta Guthová (a present member of the Management Board of Prague Airport), and Josef Adam (a present member of the Management Board of Czech Airlines). At the same time, the number of Management Board members of both Prague Airport and Czech Airlines will drop from 5 to 3. The Supervisory Boards of the two companies will install new members of their now three-member Management Boards at their next meetings. The number of members of the Supervisory Boards of both companies will also decrease – at Czech Airlines from 6 to 3, and at Prague Airport from 9 to 3.

This step ties into the meeting of 14 February, at which the Supervisory Board of Český aeroholding was established, and which saw the election not only of the Chairman (Michal Mejstřík) and two Vice Chairmen (Zdeněk Zajíček and Pavel Kohout) of the Supervisory Board, but also of the members of the company’s Management Board. Miroslav Dvořák was elected as Chairman of the Management Board of Český aeroholding, and Petr Vlasák and Philippe Moreels as Vice Chairmen. The remaining members of the five-member Management Board are Marta Guthová
and Josef Adam.

About Český aeroholding

The government reached the decision to establish Český aeroholding in November 2010. The establishment itself was preceded by the approval of the privatisation project, which the government approved on 19 January 2011. On 10 February 2011, the Minister of Finance of the Czech Republic signed the company’s Deed of Establishment.

The newly established joint-stock company Český aeroholding is an entity into which the corporations Prague Airport and Czech Airlines, as well as their subsidiaries, are to be gradually integrated, in line with applicable legislation and subject to the approval of relevant bodies. Although one of the goals of this stable and strongly capitalised entity, under the direct supervision of the government, is to achieve major operating and financial savings, all subsidiaries will be independent businesses and will maintain a level playing field with respect to all of their business partners (e.g. with respect to all airlines, in the case of Prague Airport). For further details, see the press release of 25 November 2010.

The project is self-financed in its entirety, without placing any burden on the national budget. The holding company structure has been proposed in line with national and European competition law.

The transition to the full holding company structure will be gradual, taking place in several related stages, which will be completed by the end of 2012. Major steps leading to the formation of Český aeroholding will continue to be published on a regular basis.                             



Michaela Lagronová
Press Spokesperson
Letiště Praha, a. s.  

 

Hana Hejsková
Press Spokesperson 
Czech Airlines Group