Pegasus Airlines to buy airberlin stake in IZair

Pegasus Airlines reached (08-Mar-2017) an agreement to buyout airberlin's 29.51% stake in Pegasus Airlines' subsidiary IZair, for a consideration of EUR1.2 million, increasing its share in the subsidiary to 98.63%. The transaction is subject to the completion of the filings with and Turkey General Directorate of Civil Aviation and the competition authority approvals. The share transfer envisages the termination of the agreements with airberlin in respect of their shareholding in IZair and the airberlin Turkey Project. [more - original PR]