Cypriot-based carrier Tus Airways will have a majority share controlled by its newest investor under an agreement between the company’s shareholders.
The carrier’s ownership had already been split equally three ways between Israel’s Global Knafaim Leasing, US entrepreneur Kenneth Woolley, and two partners – Ami Cohen and Arnon Englander – from the Holiday Lines Group.
Cohen and Englander had taken a one-third share in the carrier earlier this year, and this investment agreement included a call option.
Global Knafaim states that Cohen and Englander will acquire equal shareholdings from itself and Woolley.
This will take their interest in Tus Airways to 75% and leave Global Knafaim and Woolley with 12.5% each.
Exercise of the option and the acquisition of the shareholdings will involve a total consideration of about $2.1 million.
Tus Airways uses a fleet of three Airbus A320 jets, two on services within its own network and the third for wet-lease operations.
