Warsaw (Puls Biznesu) – SkyEurope, the Slovakian low-cost airline, considers an IPO in Warsaw. “IPO is one of options being taken into consideration”, Christian Mandl, SkyEurope managing director said. Unofficial sources say that the company would like its shares to be listed in Vienna and Warsaw. The IPO could be conducted after summer holiday, the Reuters Agency said.
“Listing on GPW is a good idea, especially now when no-frill airlines are getting more and more popular. But the company is seasonal as all airlines. However, unless they have already applied to the securities and exchange commission KPWiG, they won’t be listed in the upcoming months”, Adam Rucinski, TFI PZU investment advisor commented.
In March, SkyEurope raised its capital by EUR 10m within its financing programme wroth EUR 50m started in July 2004. The company’s main shareholder is SkyEurope Holding – the consortium of EBRD, Dutch ABN Amro and European Investment Fund. In 2004, the airline had 956,000 passengers while in 2003 – 171,400. Last year, SkyEurope increased sales from EUR 13.1m to EUR 63m. It has bases in Bratislava, Budapest, Krakow, and Warsaw. The low-cost airline has 15 planes and offers routes to 28 cities in Europe.