Czech Airlines is expected to make a CZK 3bn loss this year. To help pay for that, it sold off four duty free shops (3 in Prague’s international airport, one in Karlovy Vary) for CZK 764m (€29m). Its general director Miroslav Dvorak says the sale to Aelia, part of the Lagadere Services group, will allow it to concentrate on its core business (getting people places). What can it sell off next year, though, if he doesn’t turn things around?
The four airport shops cover a total of 796 sqm of retail space. According to Aelia, CSA’s total retail business generated sales of about €25m ($36.4m) in 2008. Sales in the first eight months of 2009 reached €13.1m, a slight decline compared with the same period the previous year (€13.7m).