The Penta group bidding through its subsidiary Oakfield for a privatization of the biggest aircraft plant in the CR, Aero Vodochody, has submitted an ambitious, however, very realistic plan for future restructuring of the said company to a privatization commission. The plan follows both from the present experience in successful restructurings completed by the group Penta in the Czech Republic (Adast, Fortuna, Severomoravské vodovody a kanalizace) or in Slovakia (ZSNP, Východoslovenské železárny, Ozeta Neo), and from knowledge of situation in Aero.
“We are convinced that many years of experience and highest-quality technical know-how of Aero’s employees may jointly with Penta’s know-how and experience gained in the area of restructurings and thanks to our strong financial background, return Aero among significant players in aircraft production,” says Marek Dospiva, partner of Penta.
The restructuring plan of Aero prepared by Penta has three priorities: firstly, development and production of aircrafts; secondly, production of aircraft components or final products within cooperation projects with international producers, and thirdly, construction of airport Vodochody. The Penta’s first step will be a complete capital restructuring of the company that will include particularly an increase of a share capital by approximately 10 billion CZK. The restructuring will enable implementation of further steps aimed at trade, marketing and operation. Another important target of the Penta’s business intention is to continue in the existing not only contractual relations of Aero and Army of the Czech Republic and further develop this cooperation.
The main trend in worldwide aircraft production – alike in majority of capital-demanding industries – leads to a concentration. This evokes a need for an origin of international groupings such as EADS (Airbus) or Eurofighter. “Should Aero bloom, it has to be fully engaged in those international development and production groupings, with respect to both the development of own products and production sub-supplies to other aircraft producers,” warns Marek Dospiva. “We are negotiating with several important world aircraft companies interested in mutual cooperation.”
Penta considers the activities in the area of cooperation as very prospective. Currently, the cooperation with the American company Sikorsky Aircraft Corporation, with which company Penta keeps in touch, is one of supporting production programs of Aero. This cooperation will be crucial for arrangement of financial resources during a transitional period of company’s transformation.
In addition to the aircraft production, the international non-public airport Vodochody is a part of Aero. The Vodochody airport has a perspective to become a modern and prosperous international airport of a regional type. Acording to the Penta’s vision, this airport should primarily operate as an additional airport of the Prague – Ruzyně airport. “Our objective is not to establish a Ruzyně’s competitor, on the contrary, by our activities we wish to relieve the Prague – Ruzyně airport of non-prosperous and less profitable flights and create a space for an increase of a capacity and efficiency of Prague airports. We plan to focus exclusively on services for low-cost and charter carriers,” adds Marek Dospiva.
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