TUS Airways (U8, Larnaca) officially has a new majority stakeholder after a previously announced transaction was completed, a stock exchange filing shows. The new investors also have an option to buy out the other shareholders until March 2028.
Ami Cohen and Arnon Englander, the owners of Holiday Lines Group, are now owners of a 75% stake in the airline while both Global Knafaim Leasing and US entrepreneur/Cypriot national Kenneth Woolley have become minority shareholders with each keeping a stake of 12.5% in the airline. Cohen and Englander acquired their initial stake in TUS Airways earlier this year via a special-purpose vehicle called Logo Jet.
Global Knafaim said in its filing to the Tel Aviv Stock Exchange that it would record a profit of around USD1.3 million as a result of the sale in its financial results after being paid a total of USD2.2 million dollars. The lessor added that Woolley was paid “a similar amount”.
TUS Airways’ fleet consists of three A320-200s, plus one more of the same type operated by Dan Air (DN, Bucharest Baneasa) under an ACMI agreement. One of the inhouse A320s currently operates under a wet lease for Corendon Airlines Europe (XR, Malta International).
