Travel Service acquires majority in national airline CSA
Oct. 06, 2017
PRAGUE (AP) — Czech airline Travel Service says it has acquired a majority stake in the national carrier, Czech Airlines, known as CSA.
Travel Service, the Czech Republic's biggest carrier, says it has reached a deal with the Czech state and Korean Air to buy their CSA stakes.
Travel Service had a 34 percent stake, while Korean Air acquired a 44 percent share from the government in 2013. The government still had almost 20 percent.
The sale of the state's stake still depends on approval by an anti-monopoly office.
The transaction gives Travel Service a 97.74 percent stake.
Travel Service operates regular flights under the name Smart Wings, as well as charter flights and private flights.
The CEFC China Energy Company has almost a 50 percent stake in the airline.