Published On: Fri, Jun 2nd, 2017

Turkish Airlines company Pegasus to own all Izair shares

Pegasus Airlines agreed to buy 29.51% of Izair shares owned by Air Berlin, for 1.2m euros. After completion of sales agreement Pegasus share in IzAir will increase to 98.63%  and the agreements for “Air Berlin Turkey Project” will finally come to an end.

According to Pegasus’s statement to the KAP last night, the permissions of the Ministry of Transport and the competition agencies are required to complete the purchase.


İzAir was founded in April 2005 by businessmen in Izmir. In January 2006, the company entered into a leasing agreement for three A319s. In June 2006, a “cooperation agreement” was signed between İzair and İzmir. On June 26, 2006, Izair began its flights on behalf of Pegasus Airlines. In March 2007, Esas Holding (Pegasus) bought 20 percent of İzair.

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