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 ...

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