TUS. Photo: Company PR The Holiday Lines company, owned by Ami Cohen and Arnon Englender, completes an important strategic move and executes the acquisition of 100% of TUS Airlines.
The purchase, made after exercising an option to buy an additional 25% from Global Wings and American businessman Kenneth M. Woolley, was completed for about $1.3 million.
Thus, Holiday Lines deepens its control in the tourism and aviation market and strengthens its position in the field. The strategic move comes after acquiring 33% of TUS in March 2024, when the option to complete the purchase led to full control over the company's shares.
Additionally, Holiday Lines invests about $2.4 million to purchase the remainder of the shares, thereby advancing toward full control of the Cypriot airline. This move strengthens the company's position in the market.
The purchase of TUS joins other acquisitions made by Holiday Lines in recent years, including purchasing other airlines such as the Greek Blue Bird, the Last Minute company, and the Blik tourism website.
This strategic move upgrades the company's capabilities and strengthens its position in the tourism market, as it now controls all the shares of TUS Airlines without partners.
TUS. Photo: Company PR