Icelandair Group signed an agreement regarding the sale of 20% of its share in
Travel Service. After the transaction Icelandair Group holds a 30% share in Czech company. The acquirer is Canaria Travel, which is under the same ownership as Icelandair Group's co-owners in Travel Service. “Travel Service is a solid company and has returned good operating results, however it is foreseen that it‘s operating environment in the near future will be challenging. It is considered beneficial for both companies to sell our co-owners in the Czech Republic 20% of the shares, thus they become a majority shareholder in Travel Service”, said Björgólfur Jóhannsson, CEO of Icelandair Group.
