Icelandair Group signed a letter of intent Friday to acquire Travel Service, the largest private airline in the Czech Republic and owner of LCC Smart Wings. Travel Service operates charter flights to and from Prague and Budapest in addition to Smart Wings. Its revenue in 2006, when it carried more than 1.8 million passengers, totaled €190 million ($256.9 million). Its fleet comprises 12 737s. No acquisition price was released. Friday's signing marked the start of the due diligence ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.