Prague Airport pays CZK 1.59bn for 42 hectares of land

Prague Airport has acquired 42.5 ha of land from the Ministry of Finance for CZK 1.59bn. The transaction is in some respects a merely administrative step, in the sense that the 42 hectares is made up of multiple pieces of land scattered all around the airport that were not yet owned by the airport. Originally, Letiště Praha a.s. was supposed to buy all of the land it occupied, but deals were blocked by restitution claims. The land involved in this transaction consisted of plots that were unhindered and from an accounting point of view, their acquisition raises the value of the airport as a company. The airport's spokesman Roman Pacvoň insists that the airport paid for the land in cash and that it hadn't had to take out any loans to do so. "The pieces of land are used for the activities of the international Václav Havel Airport Prague and are an integral part of the airport infrastructure. Furthermore, they are of crucial importance not only for the commercial activities of Letiště Praha but for the planned development of the airport and its infrastructure," wrote the Finance Ministry.