Czech Republic: the Czech government has initiated the first steps for privatisation of Prague airport (“Letiste Praha”) planned for the end of 2008. It gave the go-ahead to the transformation procedure for turning the airport into a share based company. This procedure will be staggered over eight months to create a strategic partnership through long term leasing or sale before the end of 2008. Several international companies have expressed an interest in the privatisation of the most frequently used airport in eastern Europe and whose price could climb to 100 billion Czech Crowns (€3.6bn). Candidates include the subsidiary of the German construction giant HOCHTIEF AIRPORT, another German company, FRAPORT (manager of Frankfurt airport), the Australian bank MACQUARIE, the Czech investment group PPF and investment groups from Slovakia, PENTA and JTL.