TUS Airways Completes Ownership Transfer to New Investors

TUS Airways (U8, Larnaca) has officially completed its previously announced ownership transfer, with a new majority stakeholder now in place. The transaction, finalized in a stock exchange filing, sees Ami Cohen and Arnon Englander, owners of Holiday Lines Group, acquire a 75% majority stake in the airline. The deal also includes an option for the new investors to buy out the remaining shareholders by March 2028.

Alongside Cohen and Englander, Global Knafaim Leasing and US entrepreneur Kenneth Woolley, who holds Cypriot nationality, have become minority shareholders, each retaining a 12.5% stake in the airline. Cohen and Englander first acquired their stake in TUS Airways earlier this year through a special-purpose vehicle (SPV) named Logo Jet, facilitating their entry into the airline’s ownership structure.

In a filing to the Tel Aviv Stock Exchange, Global Knafaim Leasing confirmed it would record a profit of approximately USD 1.3 million from the sale, after receiving a payment of USD 2.2 million for its stake. Woolley is said to have been compensated with a similar amount for his share in the airline.

TUS Airways currently operates a fleet of three A320-200s, with an additional A320-200 being operated under an ACMI agreement by Dan Air (DN, Bucharest Baneasa). One of the in-house A320s is currently on wet lease to Corendon Airlines Europe (XR, Malta International). This fleet expansion and strategic shareholder shift position TUS Airways for future growth and stability within the competitive European airline market.

With the new majority owners now in control, the airline is expected to focus on expanding its operations and strengthening its position in the regional air travel sector.

Related News : https://airguide.info/?s=TUS+Airways

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com