Ocenění společnosti České aerolinie, a. s.

Abstract

The aim of the diploma thesis is the valuation of Czech Airlines Company. The valuation day has been selected 1st January 2008. The main shareholder owning about 93% of all shares is the government of the Czech Republic or, more precisely, the Ministry of Finance. Due to bad economical situation of company, the government has decides to sell the company to strategic buyer. There are three methods of valuation that were applied in the diploma thesis. In the first part, there is methodology of valuation described The second part, some facts about Czech Airlines Company is stated. The last part includes application of valuating methods. The result of DCF equity method is the equity value equal to 1 574 398 thousand crowns. Method of capitalized net earnings in the analytical form values company equity 2 348 871 thousand crowns and in the sweeping form – 1 873 415 thousand crowns.