Government paves way for airport privatisation

On Wednesday, the cabinet approved the transformation of Prague Airport into a joint-stock company. This paves the way for Prague Airport's privatisation, which the government is planning some time next year. The new company will be established by the Ministry of Finance, which will then go on to represent the state as the 100% owner of the airport. The government is still undecided on whether to sell the airport outright, or lease it on a long-term basis to the highest bidder. It is thought that the sale of the airport could bring as much as 70 billion CZK (3.5 billion USD) into the state coffers, money which the government has said will go on improving the country's transport infrastructure. Last year, Prague Airport made a net profit of almost 1 billion CZK and is considered to be one of the state's most lucrative assets.