98
the resolution No. 888 of the Czech government from July 9, 2008, almost the whole registered capital of the state enterprise Správa Letiště Praha, s.p. was put into a new joint stock company Letiště Praha, a.s. Currently Letiště Praha, a.s. operates the most important international airport in the Czech Republic and the second largest airport in Central and East Europe. In 2010 the com pany achieved net profit of CZK 0.891 billion on sales worth CZK 5.5 billion (Picture 45). 2.10.3.1.5 ČESKÉ AEROLINIE, A.S. (CZECH AIRLINES, JOINT STOCK COMPANY)
The company České aerolinie, a.s., (“ČSA”) represents a flagship flight carrier in the Czech Republic, which has been operating in this area since 1923. The main business activity of the ČSA is carrying passengers on regular routes, but it also deals with cargo transportation. At the end of 2009 MFČR was a majority shareholder of this company (91.75% interest). It was followed by Česka pojiš ťovna, a.s.,(Czech Savings Bank) (4,33 %), Hlavní město Praha (The City of Pra gue) (2,94 %) and Hlavní město Bratislava (Magistrate of Bratislava) (0,98 %). After company’s restructuring in 2011, ČSA became a 95.56% subsidiary of Český Aeroholding, a.s. In 2010 ČSA netted CZK 76 million on CZK 16.5 billion while in 2009 ČSA posted a CZK 3.8 billion loss when reporting sales at CZK 19.9 billion (Picture 46). Picture 46: Financial results of Česke aerolinie, a.s., in 2007–2010 1,000 0
207
40,000
470
76
– 1,000 – 2,000
23,400
22,532
19,789
Revenues (right-hand axis, CZK millions)
20,000 16,547
–3 756
– 4,000
2007
30,000
Net pro�it (left-hand axis, CZK million)
25,000
– 3,000
– 5,000
35,000
2008
2009
Source: Annual reports of Česke aerolinie, a.s.
15,000 10,000 5,000
2010
0
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