CzeCh airlines - České aerolinie

NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2010
annual report 2010 | 69
As of 16 December 2010, the Company’s Board of Directors further decided to
increase the share capital by CZK 402,100 thousand and share premium by
CZK 42 thousand in Czech Airlines Technics, a.s. (formerly ClickforSky, a.s.). The
increase was done by the subscription of 4,021 pieces of ordinary shares with
a nominal value of CZK 100 thousand per share. At the same time, the offsetting
agreement was signed with respect to the loan provided by the Company to Czech
Airlines Technics, a.s. (Note 26) and the receivable of Czech Airlines Technics, a.s.
for subscribed shares in the amount of CZK 402,142 thousand. The increase of the
share capital was recorded in the Commercial Register on 23 February 2011.
In September 2010, the Company sold its 100% share in SLOVAK AIR SERVICES,
s.r.o. The revenues from the sale were in the amount of CZK 17,874 thousand and
the carrying amount of CZK 1,959 thousand.
Related party transactions are disclosed in Note 26.