Pegasus Airlines, one of Turkey's largest airline companies, has reached a deal with Air Berlin to purchase the German company's shares in İzAir (İzmir Airlines).
With the deal, Pegasus is now the owner of single-majority shares in the company with 98.63 percent. According to a statement in the Public Disclosure Platform, Pegasus Airlines penned the 1.2-million-euro deal to purchase 29.51 percent share at İzAir from Air Berlin.
According to the statement, the acquisition will be completed once a permit is issued by authorities of the Transportation, Maritime Affairs and Communications Ministry.
Pegasus Airlines is a Turkish airline headquartered in the Kurtköy area of Pendik, Istanbul, with bases at several Turkish airports. On Dec. 1, 1989, two businesses, Net and Silkar partnered with Aer Lingus to create an inclusive tour charter airline called Pegasus Airlines while services were inaugurated on April 15, 1990, with two Boeing 737-400s.
Last October and back in June 2014, Pegasus was found to be offering the most reasonable prices among European low cost airlines. The airlines flies to 40 different countries, and has 32 domestic and 68 international destinations.
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