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Czech iconic start up travel agency seen for sale One of the biggest Czech business success stories of the post-VelvetRevolution is up for sale according to the business daily, HospodářskéNoviny. Photo: PatrikPaprika, Wikimedia CC BY-SA 3.0 Airline and bus ticket seller Student Agency was founded in 1996 bybusinessman Radim Jančura and became one of the biggest companies on themarket. With the end of the iron curtain, travel was one of the freedoms manyCzechs wanted to taste and bus tickets and au pair tours to Western Europeand other countries was one way to make it affordable. Student Agencycashed in on that and rode the wave as Czech disposable income rose andforeign trips to far away destinations became more and more affordable. The business daily bases its information on a document drawn up forpotential investors. It says that the asking price for Student Agency couldcome to around 1.0 billion crowns based on its recent turnover figures.Turnover last year reached 18 million euros with the company employingaround 175. Jančura wants to use the income from the sale to invest in other parts ofhis transport empire, namely the bus and train ticket sales and operationsgrouped under the banner RegioJet.The paper points out that RegioJet’s passenger train business hasincreased ambitions to take on Czech Railways, the state-owned passengerrail company which dominates most of the domestic market. An increasing series of mainline rail routes and regional routes, thelatter mostly subsidised as public service operations, will be coming upfor tender soon giving the private operator a chance to increase its marketshare. The train and bus business currently transport around 16 millionpeople a year. Czech passenger rail service competition has dragged in recent years withmany tenders for regional routes delayed and the state showing someenthusiasm for trying to protect the state passenger rail company for aslong as possible.

For the original version including any supplementary images or video, visit http://www.radio.cz/en/section/business/czech-iconic-start-up-travel-agency-seen-for-sale

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