Travel Service Airlines (Prague Václav Havel) has confirmed it has now formally increased its shareholding in CSA Czech Airlines (OK, Prague Václav Havel) to 97.7% after it acquired a 44% stake held by Korean Air (KE, Seoul Incheon) as well as a 19.74% stake held by the state asset management company, Prisko.

Travel Service spokeswoman Vladimíra Dufková confirmed to ch-aviation that the transaction, whose overall value was not disclosed, went through on Tuesday, February 27. However, the government had conditioned its sale on Prisko receiving the same price, share-for-share, as that of Korean Air. The remaining 2.3% is held by local insurance firm Česká pojišťovna.

Travel Service Airlines has yet to specify its exact intentions for CSA with Board Chairman Jiří Šimáně stating only that its intention is to "build a strong airline operating a fleet of 70 to 80 aircraft."