Israir in final Smartwings takeover talks

A Smartwings Boeing 737 MAX 8 at Ostrava Airport. Credit: / Vojtěch OčadlýA Smartwings Boeing 737 MAX 8 at Ostrava Airport. Credit: / Vojtěch Očadlý

Israir has been in talks to buy Smartwings for six months.

Israir Group has confirmed that it is in intensive talks with the owners of Smartwings to buy 100 percent of the Czech airline’s shares.

This follows from a statement to the Tel Aviv Stock Exchange, where Israir Group shares are traded. was the first to note the continuation.

In its 2022 financial report, Israir said it was in intensive negotiations with Smartwings’ owners over the terms of the acquisition. Israir’s interest first came to light last November. Israir emerged from a loss last year, earning $20.6 million. Smartwings has been tight-lipped about its negotiations with investors.

Israir said last November that it was offering EUR 44 million for Smartwings. The offer for the shares alone is worth EUR 8 million. Another EUR 36 million will be used to clear the company’s debts.

Since the negotiations began, there has been a significant change in Smartwings’ management: the main shareholders, Jiří Šimáně and Roman Vik were replaced by Jiří Beneš and Michal Stašek. Jiří Jurán was elected Chairman of the Board.

In addition to the Czech shareholders, Israir has to reach an agreement with the Chinese shareholder Rainbow Wisdom Investments Limited, which holds 49.92% of the shares, while the Czech shareholders hold 50.08%.


Edited and translated by Lucie Trávníčková

Tagy Israir Smartwings
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