Tag Archives: 737-8CX

Czech Airlines to get another new airline partner: Travel Service Airlines

Czech Airlines-CSA (Prague) and partner Korean Air (Seoul) have announced Korean Air has exercised its option and brought in another equity partner. Travel Service Airlines (Prague) is acquiring a 34 percent share in Czech Airlines. Korean Air retains its 44 percent share.

The airlines issued this statement:

Czech Aeroholding has been informed by Korean Air about its requirement to use option to exercise its right to purchase further 34% of Czech Airline stock from Czech Aeroholding. This step is in accordance with the purchase contract on the sale of 44% of Czech Airline stock signed by Korean Air and Czech Aeroholding in April this year. Korean Air will subsequently sell 34% stake to Travel Service, an air carrier, which will thus become a co-shareholder of Czech Airlines thus joining Korean Air which holds 44% of shares, Czech Aeroholding with the final share of 19.74% and Ceska Pojistovna which will continue to hold its 2.26% share in Czech Airlines.

Korean Air explains the decision to exercise its option on further 34% of the Czech Airlines shares which is to be subsequently sold to Travel Service by its plan to reinforce its operations in Europe. Working together with Travel Service, the company wishes to make Vaclav Havel Airport Prague its European hub. The entry of Travel Service into Czech Airlines will provide Korean Air with connections to approximately 40 new destinations in Europe to which their passengers will be able to fly after their transfer at Vaclav Havel Airport Prague.

As early as in spring of this year, Korean Air purchased 44% of Czech Airlines shares from Czech Aeroholding which it will continue to hold. Now it wishes to use the Czech Airlines platform to collaborate with Travel Service. With regard to the fact that Travel Service, the new shareholder, is a Czech air carrier, Czech Airlines will not lose the status of the so called national carrier.

We regard the development of Vaclav Havel Airport Prague aiming to make it a Central-European hub as absolutely crucial. The fact that Korean Air is bringing another key partner into Czech Airlines represents a step toward fulfilling this aim. I am convinced this partnership will be advantageous particularly for passengers who, in future, will be able to choose from a more quality product – a wide network of destinations – provided by the three carriers,” said Miroslav Dvorak, chairman of the Board of Directors and CEO of Czech Aeroholding.

In spite of the fact that the contractual documentation might be signed as promptly as possible, it will surely include suspensory conditions. This is because the entire transaction is first subject to approval by the competent antitrust authorities, which may take several months before it can take effect.

In the context of changes of the Czech Airlines shareholder structure, Philippe Moreels, the current President and Chairman of the Board, announced its intention to resign from both positions. “I welcome the entry of Travel Service into Czech Airlines and also perceive it as the culmination of the company’s intensive four year restructuring period. In this new phase, Czech Airlines is going to need some new blood and a change in its management style. Therefore, it is logical that all the shareholders will agree on a new company president after the transaction has been completed. Until then, I will continue to be available and will be working on all the steps necessary allowing the transaction to bring a synergy effect to allthe partners as soon as possible,” said Philippe Moreels about his intention to resign from both his positions after the transaction has been approved by antitrust authorities.

After the transaction has been approved by antitrust authorities, the Czech Airlines statutory bodies will continue to consist of three members and their composition will reflect the new shareholder structure of the company.

Top Copyright Photo: Karl Cornil/AirlinersGallery.com. Airbus A319-112 OK-NEM (msn 3406) of Czech Airlines arrives in Amsterdam with the special 90 Years (1923-2013) logo.

Czech Airlines-CSA: AG Slide Show

Travel Service Airlines: AG Slide Show

Korean Air: AG Slide Show

Bottom Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Travel Service Airlines’ (Czech Republic) Boeing 737-8CX OK-TVB (msn 32362) prepares to land in Nantes, France.

 

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SunExpress orders six Boeing 737-800s

 

Boeing 737-8CX TC-SUG (msn 32365) of SunExpress with the special Istanbul markings arrives at Nuremberg.  Copyright Photo: Gunter Mayer.

Boeing 737-8CX TC-SUG (msn 32365) of SunExpress with the special Istanbul markings arrives at Nuremberg. Copyright Photo: Gunter Mayer.

SunExpress Airlines (Antalya) has been identified as the unidentified customer that has ordered six Boeing 737-800s with Blended Winglets. The airline currently operates 15 737-800s.

 

Boeing’s current orders:

active.boeing.com/commercial/orders/index.cfm

SunExpress to celebrate its 20th Anniversary

 

TC-SUJ also now carries SunExpress.com web titles.  Copyright Photo: Gunter Mayer.

TC-SUJ also now carries SunExpress.com web titles. Copyright Photo: Gunter Mayer.

SunExpress Airlines (Antalya) is getting ready to celebrate its upcoming 20th Anniversary with this special “20 Years” blue sticker as seen on Boeing 737-8CX TC-SUJ (msn 32368) at night at Nuremberg. The company was originally formed in October 1989 as a joint venture between Turkish Airlines and Lufthansa. The company commenced operations in April of 1990.

Garuda Indonesia leases eight 737-800s

 

Please click on photo for full view and caption.

Please click on photo for full view and caption.

Garuda Indonesia Airways (Jakarta) has leased eight Boeing 737-800s from DAE Capital with the first deliveries starting in June 2009.  The transaction is actually a sale and leaseback and the aircraft are the first eight of an order for 50 aircraft ordered by Garuda last year.