newstodate.aero
Feb 27, 2013 (newstodate): The Icelandair Group is to pull out entirely from ownership in the Czech carrier Travel Service.
In December 2009, the Icelandair Group decided to focus on core businesses, putting ownership stakes in Group subsidiaries Smartlynx, formerly LatCharter, in Latvia, acquired in 2006, the Icelandic cargo capacity provider Bluebird Cargo that was acquired in 2005, and the Czech Travel Service, acquired in 2007, up for sale.
On February 26, 2013, the Icelandair Group announced it had sold its remaining 30 percent stake in the Czech airline Travel Service to other shareholders in the carrier.
On 18 September 2007, the Icelandair Group acquired 50 percent of the stake Travel Service and purchased further shares to bring its holding to 80 percent by April 2008 aiming at a full ownership of the carrier.
In December 2008 it however reduced its holding to 66 percent, and in 2009 the stake was further diluted to 50.1 percent through a new emission, later bringing the stake down to 30 percent through a sale to another shareholder.
In December 2009, the Icelandair Group decided to focus on core businesses, putting ownership stakes in Group subsidiaries Smartlynx, formerly LatCharter, in Latvia, acquired in 2006, the Icelandic cargo capacity provider Bluebird Cargo that was acquired in 2005, and the Czech Travel Service, acquired in 2007, up for sale.
On February 26, 2013, the Icelandair Group announced it had sold its remaining 30 percent stake in the Czech airline Travel Service to other shareholders in the carrier.
On 18 September 2007, the Icelandair Group acquired 50 percent of the stake Travel Service and purchased further shares to bring its holding to 80 percent by April 2008 aiming at a full ownership of the carrier.
In December 2008 it however reduced its holding to 66 percent, and in 2009 the stake was further diluted to 50.1 percent through a new emission, later bringing the stake down to 30 percent through a sale to another shareholder.