Czechia could list Prague Airport on stock exchange by 2028, says PM

Czech Prime Minister Andrej Babiš said the state could offer shares in Prague Airport to investors as early as 2028, potentially giving residents and businesses a new way to invest in one of the country’s key infrastructure companies.

The proposal would involve an initial public offering (IPO) of around 40 percent of Letiště Praha, the state-owned company that operates Václav Havel Airport Prague. Babiš said the airport would remain under state control even after a partial listing.

“We are considering an IPO of approximately 40 percent and we will see how it develops,” Babiš told journalists. “If we proceed with it, and I think we will, we would aim for around 2028.”

Industry and Trade Minister Karel Havlíček said new shareholders could help finance further development of the airport, while Babiš described the facility as a strategic asset.

The possible listing comes as the government also plans changes involving the state’s ownership of energy giant ČEZ. The coalition government of ANO, SPD and Motoristé has proposed buying out minority shareholders in the company, which is currently majority state-owned.

Babiš said a future Prague Airport listing could provide another opportunity for investors looking for Czech shares after the planned ČEZ changes.

However, the plan has already raised questions among airport employees. Prague Airport unions are currently on strike alert over the selection of a new CEO, and earlier comments about partial privatization have added to concerns about the company’s future direction.

Finance Minister Alena Schillerová said after meeting with union representatives that the proposal was not currently active and that any move would require a clear economic justification.

Analysts have estimated that selling a 40 percent stake could bring the government tens of billions of crowns. Earlier estimates suggested the state could receive around CZK 25 billion, although the final amount would depend on the airport’s valuation and market conditions.

Experts have valued the entire company at more than CZK 50 billion, with some estimates reaching CZK 65 billion or higher. They have also warned that selling shares would mean the state gives up part of future dividend income.

Analysts contacted by Czech News Agency said a public offering would make economic sense if the money were used for long-term investments or strategic projects rather than simply covering short-term budget needs.

A listing would also represent a major addition to the Prague Stock Exchange, which has lacked large new companies in recent years. Experts say a Prague Airport listing could attract domestic and international investors, including pension funds and infrastructure-focused investment funds.

Before any IPO could take place, the government would need to resolve legal issues. Current Czech law requires Prague Airport and related property to remain fully owned by the Czech state or companies completely controlled by the state.

The Finance Ministry has said it is not currently preparing steps to list the airport, saying its priority remains infrastructure development and stable operations. A potential IPO would likely require years of preparation, including financial audits and regulatory approval.