The current operator’s five-year agreement ends this year, followed by the launch of a new operator
Prague Airport is initiating a concession procedure to choose a new currency exchange and ATM operator. The business model will undergo significant improvement, including a maximum 15% spread cap on exchange rates for three main currencies, based on the Czech National Bank (CNB) midpoint. This exchange rate policy is among the lowest in European airports. The current operator’s five-year agreement concludes this year, paving the way for the launch of operations by the new operator.
According to a member of the Prague Airport Board of Directors, the tender announcement reflects extensive research conducted across various international airports to assess the offered exchange rates. The goal is to significantly enhance the service through a predetermined exchange rate spread. As part of the concession process, the new operator must possess experience in providing foreign currency exchange services and VAT refunds at a minimum of three international airports. The contractual agreement mandates that the spread for the euro, dollar, and British pound is defined as the difference between the offered exchange rate and the midpoint of the Czech National Bank’s published exchange rate. For online currency reservations and airport currency collections, the cap for these three currencies is only 5 percent, which may be particularly appealing to domestic travelers, stated Puchalský.
The new operator will be responsible for providing a range of services, including currency exchange, ATM operation, VAT refund processing and payments, online currency reservations with airport collections, and money services such as cash transfers. They will have exclusive rights to currency exchange services and ATMs in the non-public areas of both airport terminal buildings. Introducing a new provision, there will be a contractual fine of 10,000 crowns for each violation of the exchange rate cap. In the event of persistent violations, Prague Airport reserves the right to revoke the operator’s exclusive status or terminate the agreement. Additionally, the new operator will be obligated, beyond legal requirements, to handle cancellations of transactions in the public airport area that were originally conducted in the restricted area, where the client no longer has access.
