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Order HereCzech airline company Travel Service has completed acquisition of a 34% stake in Czech Airlines, becoming the carrier’s newest and second largest shareholder. The deal was approved by the European Commission in December 2014.
As a result of the transaction, Korean Air remains the major shareholder, with 44%, followed by Travel Service (34%), Czech Aeroholding (19.735%), and Česká Pojišťovna (2.265%).
In a statement, Czech Airlines said it viewed “the entry of Travel Service into its management structure as an important step towards enhancing the management principles of a private business entity and an opportunity to continue transforming Czech Airlines into a modern European air carrier.”
Czech Airlines board of directors remains unchanged, and the restructuring process approved by shareholders in September 2014 continues, with the emphasis on increasing operational efficiency, and changing the company’s business model and routes management.
Travel Service was founded in 1997 and operates scheduled and charter flights under the SmartWings brand (since 2004) and private business jet services (since 2007).
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereCzech airline company Travel Service has completed acquisition of a 34% stake in Czech Airlines, becoming the carrier’s newest and second largest shareholder. The deal was approved by the European Commission in December 2014.
As a result of the transaction, Korean Air remains the major shareholder, with 44%, followed by Travel Service (34%), Czech Aeroholding (19.735%), and Česká Pojišťovna (2.265%).
In a statement, Czech Airlines said it viewed “the entry of Travel Service into its management structure as an important step towards enhancing the management principles of a private business entity and an opportunity to continue transforming Czech Airlines into a modern European air carrier.”
Czech Airlines board of directors remains unchanged, and the restructuring process approved by shareholders in September 2014 continues, with the emphasis on increasing operational efficiency, and changing the company’s business model and routes management.
Travel Service was founded in 1997 and operates scheduled and charter flights under the SmartWings brand (since 2004) and private business jet services (since 2007).
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereCzech airline company Travel Service has completed acquisition of a 34% stake in Czech Airlines, becoming the carrier’s newest and second largest shareholder. The deal was approved by the European Commission in December 2014.
As a result of the transaction, Korean Air remains the major shareholder, with 44%, followed by Travel Service (34%), Czech Aeroholding (19.735%), and Česká Pojišťovna (2.265%).
In a statement, Czech Airlines said it viewed “the entry of Travel Service into its management structure as an important step towards enhancing the management principles of a private business entity and an opportunity to continue transforming Czech Airlines into a modern European air carrier.”
Czech Airlines board of directors remains unchanged, and the restructuring process approved by shareholders in September 2014 continues, with the emphasis on increasing operational efficiency, and changing the company’s business model and routes management.
Travel Service was founded in 1997 and operates scheduled and charter flights under the SmartWings brand (since 2004) and private business jet services (since 2007).
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.