Polish Airports becomes part of the CPK Capital Group goal

CREDIT: PPL

The Government Plenipotentiary for CPK has contributed the shares of Polish Airports (PPL) company to the Centralny Port Komunikacyjny (CPK). As a result, PPL joined the CPK, bringing together the main assets and investment processes for airport infrastructure in Poland, making the new CPK Capital Group dominant in our European region.

The transformation process at PPL has been completed and the CPK Group will be responsible for coordinating and obtaining financing for investment tasks related to the construction of the new transfer hub. 

Centralny Port Komunikacyjny is a company preparing to build a new airport, for which it already has, among other things, a concept design, an environmental decision, a general plan, aviation arrangements and over 1,000 hectares of real estate purchased. CPK is also a railway investor preparing the construction of approximately 2,000 km of new railway lines including HSR lines, of which design is already at an advanced stage for approximately 500 km.

Polish Airports (“Polskie Porty Lotnicze” in Polish) owns and manages, among others, Chopin Airport in Warsaw, and airports in Radom and Zielona Góra. They also hold shares in most regional airports in Poland, including Kraków, Katowice, Gdańsk, Poznań, Wrocław and Rzeszów. 

CREDIT: PPL

CREDIT: PPL

CREDIT: PPL

“The integration of PPL into CPK will bring a number of positive results. Firstly, this will create a strong capital group that manages the most important state-owned airport assets. Secondly, the consolidation will make the CPK Capital Group dominant in our European region. Thirdly, this move will improve the construction of CPK’s infrastructure, which will ensure the continuation of Chopin Airport’s functions in a new location, to a better standard and guarantee an increase in the number of jobs,” said Marcin Horała, Deputy Minister of Funds and Regional Policy and government plenipotentiary for CPK. 

The consolidation of PPL and CPK has led to the concentration of competencies and responsibilities for the planning and management of the country’s airport infrastructure in one capital group. Similar airport management solutions operate i.e., in Sweden (Svedavia Group) and France (Aéroports de Paris – ADP). 

“The takeover of PPL ensures a coherent development of the Polish aviation sector. It enables us to better integrate investment activities and the objectives of the CPK programme, to prepare for the transfer of civil traffic and to test the technologies that will subsequently be used at the new airport,” – said Mikołaj Wild, CEO of CPK. 

PPL’s entry into the CPK capital group’s structures is the fulfilment of the provisions of the Act on streamlining the CPK investment process and completes a process that began in October last year. In April this year, PPL was transformed into a commercial law company (thus PPL moved away from the archaic formula of a state-owned enterprise). 

“The integration with CPK has created a group that can take full advantage of Poland’s geographical location and the potential of the growing aviation market in this part of Europe. Today, Chopin Airport employs top-class professionals with unique knowledge in specialised service areas, which can also be used for the benefit of the emerging airport infrastructure,” said Stanisław Wojtera, CEO of PPL. 

The contribution of PPL’s shares worth PLN 6.4 billion and last week’s issue by the Ministry of Finance of bonds for CPK worth PLN 3.6 billion increased its share capital to nearly PLN 11.5 billion. All the newly created shares were taken up by the State Treasury. The funds from the bond issue will be used to continue the preparation, design, and construction of CPK.