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updated: 10/6/2017 7:41 AM

Travel Service acquires majority in national airline CSA

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  • Logo of Travel Service airline is placed on a building at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.

    Logo of Travel Service airline is placed on a building at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.
    Associated Press

  • Czech Airlines aircraft lands at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.

    Czech Airlines aircraft lands at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.
    Associated Press

  • Czech Airlines aircraft lands at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.

    Czech Airlines aircraft lands at the airport in Prague, Czech Republic, Friday, Oct. 6, 2017. Czech airline Travel Service says it has acquired a majority stake in the national carrier Czech Airlines or CSA.
    Associated Press

 
 

PRAGUE -- 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.

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