CEFC boosts stake in Travel Service to just under 50 percent

Chinese company CEFC has boosted its stake in Czech airline operator Travel Service to 49.9 percent, the business daily E15 reported Thursday. Previously, CEFC had a stake of around 10 percent. As well as operating scheduled and regular flights, mainly through the carrier SmartWings, Travel Service also owns a third of the national airlines Czech Airlines (ČSA). The increased Chinese stake should allow SmartWings to boost its offer of scheduled flights according to management.

Author: Chris Johnstone