1-Apr-2015 2:02 PM

Travel Service completes acquisition of 34% stake in CSA Czech Airlines

Travel Service completed (31-Mar-2015) its acquisition of a 34% stake in CSA Czech Airlines, as confirmed by Český Aeroholding. Travel Service and Český Aeroholding will exercise "joint managerial control" over the carrier. As previously reported by CAPA, the European Commission approved the transaction in Dec-2014, with Korean Air maintaining its 44% stake, Český Aeroholding's stake decreasing to 19.74% and Česká Pojišťovna holding the remaining 2.26%. Český Aeroholding stated: "CSA's situation has stabilised significantly in recent months through the approval and gradual implementation of the restructuring plan. The completion of entry into the CSA by Travel Service as a second private investor is held as a confirmation of confidence in the stability and future of CSA. At the same time, we believe that all shareholders will proportionally contribute to the further development of CSA." [more - original PR - Czech]

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