Turkish carrier Pegasus Airlines has acquired an outstanding shareholding of nearly 30% in Izmir-based operator Izair.
Pegasus has disclosed that the 29.51% shareholding is being purchased from Air Berlin, which took control of the stake following a tie-up with Izair dating back to around 2012.
The purchase price of the stake is given as €1.2 million, according to a disclosure on the Istanbul stock exchange.
Transfer of the shareholding will take place upon authorisation from regulators including the Turkish ministry of transport and the country’s civil aviation directorate.
Pegasus was already the majority shareholder in Izair. It had taken a 20% stake in 2007 before raising this to more than 69%.